Private sector job recovery stronger than that of early 2000 and at par with that of early 90s

Job Market Monitor

The U.S. economy is working its way back from the Great Recession. One indication has been that unemployment insurance claims have steadily fallen since September and they are now at the same level as in March of 2008. Additionally, layoffs are at the same level as in 2006. We also recently learned that the ratio of job seekers to job openings fell to 3.5 in May, continuing its downward trend and reaching nearly the same level as in November 2008. This recovery, like all recoveries, has seen its ebbs and flows, but the trajectory continues to demonstrate a steady path of growth and resilience.

For example, this economic recovery far surpasses the recovery of the early 2000s in terms of private sector job growth and is at par with the recovery of the early 90s. We have seen 4.4 million private sector jobs added to the economy in the last…

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