This recently published data depicts private sector payroll employment from December 2007 to the present.
It’s also the visual representation of an argument in Newsweek that validates Obama’s recovery plan, stating that the government bailout was based on data that supports an economic shrinking rate of approximately 4 percent when in reality it was closer to 9 percent. According to author Andrew Sullivan, the the benefits of the plan have slowly come to surface with more improvement to come.
Further research from the U.S. Department of Labor proves that Sullivan’s assessment is correct. Even with the economy starting to show signs that the worst is now over, some economists are afraid to be optimistic, which is reasonably understandable. With the false economic boom in the 1990s, the idea of another recession is unimaginable.
Is this the gleam of new hope the country has been waiting for? It shows promise. At least it’s looking in the right direction. Only time will tell if the continued job growth will be able to sustain cuts to the private sector and future economic uncertainties.
Thanks to Shauna McLaughlin for the news tip.