First News
Volume:7, Number:45
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Business & Finance 3

A Decade Later, US Economy Back Where It Started

By most measures, the US economy is finally back to where it was before the Great Recession hit. All it took was eight years of slow-and-steady job growth, which, of course, is exactly what the US economy got in April. The economy added 211,000 jobs, bringing both the unemployment rate and the broader one that includes people who can only find part-time jobs -- or have taken a break from looking -- to 10-year lows, respectively, of 4.4 and 8.6 percent. But the “new normal” has not returned the country to normalcy just yet. The “prime-age” workers those between ages 25 and 54. Before the crash, 80.2 percent of them were working, but afterward, that fell to 74.8 percent. Today, that has rebounded to 78.6 percent, which is about three-quarters of the way back to where it was -- or, in other words, about two years away from the recovery reaching its final destination.

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