The US economy finally regained all the jobs lost in the last recession as hiring continued to expand at a solid pace, the US Labor Department reported Friday, according to the Boston Globe.
Employers added 217,000 jobs in May, pushing total employment to 138.4 million, slightly above the previous peak reached in January 2008 as the historic recession got underway, the Labor Department said. The more than six years it took to recover the jobs represents the longest employment slump since World War II.
The long, difficult slog for the labor market underscores the severity of the last downturn, which became known as the “Great Recession” and the weakness of recovery that followed. Even as the US economy at last appears to be accelerating, analysts cautioned that job market has yet to completely regain its health, the Boston Globe reports.See this story on www.bostonglobe.com