Job Market Analysis: Dean Baker

DailyTickerSeptember 4, 2013

It’s been more than four years since the Great Recession ended in June 2009.The jobless rate has fallen to 7.4% (from a 10% peak in October ’09), but that’s largely because many people have stopped looking for work. Payrolls have expanded by 7.3 million, but that’s well short of the 8.7 million jobs lost in the recession.

“It is ’s a very weak job market,” says Dean Baker, co-director of the Center for Economic and Policy Research. “We have fewer jobs [and] people are taking worse jobs.”