Notice the private sector job situation actually turned faster after the latest recession compared to the previous two recession. However, the real issue is the amount of job losses that occurred during the recession -- notice the steep decline that occurred during the last recession.
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There is no recession while we have positive growth in year over
year private sector job openings....
2010 10 3027.
2010 09 2658.
2010 08 2752.
2010 07 2821.
2010 06 2537.
2010 05 2597.
2010 04 2675.
2010 03 2363.
2010 02 2266.
2010 01 2471.
2009 12 2130.
2009 11 2113.
2009 10 2164.
Turn that chart into a logarithmic-scaled chart so that percentages can more easily be visualized and compared, and you will see clearly why most people feel like we are still in a "recession".
Even though GDP is increasing, people feel bad about the economy. In any other context, feeling bad when you really shouldn't is a characteristic of psychological depression. Shouldn't we, therefore, call these times by the less technical economic term "depression"?
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