The current employment-to-population ratio shows the Great Recession has been longer and deeper than any recession during the previous 50 years. A lower employment-to-population ratio means more members of the working-age population are unemployed or out of the labor force. At the lowest point, the employment-to-population ratio declined 4.7 percent during the Great Recession (in December 2009), more than fifty percent larger than the second biggest recorded decline during the 1980-1982 recessions, where the fraction of Americans employed fell 3.0 percent.
The Long Road Back to Full Employment: How the Great Recession Compares to Previous U.S. Recessions
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