On Labor Day we pay tribute to the social and economic achievements of American workers.
Currently, 58.9% of working-age Americans have jobs, down from 62.7% at the start of the Great Recession.
It took 77 months, but earlier this year non-farm payroll jobs finally gained back what had been lost during the Great Recession. About 8.8 million jobs were lost during the 2007-09 recession.
Why do they call it the Great Recession? One data point is telling: During the recession of 1980-82 (then considered the worst since the Depression) it took only 44 months to regain the jobs lost during that economic downturn.
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