The Lag in Employment Recovery

While US real GDP bottomed out in the second quarter of 2009 and is now back at its pre-recession level, non-farm payrolls only started picking up at the beginning of 2010, and they remain far below their previous peak. What explains the existence of this lag?

This brief appeared in the most recent UHERO County Forecast Report and is being made available as a service to the public. For more detailed analysis, subscribe to UHERO’s Forecast Project.

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