About 3.2 million jobs in the U.S. have disappeared since the recession began in early 2001. Experts say the U.S. is suffering from a "job-loss recovery" not the jobless recovery of the 1990s.
There is good news, however: employment has perked up in recent weeks.
Tom Ford, "Economic problems will greet Martin," The Guelph Mercury, October 24, 2003
Angela Shah, "June numbers show labor market in 'quicksand'," The Dallas Morning News, July 4, 2003
"Growth of anything less than 3 percent to 4 percent is a jobs recession," said James Glassman, senior economist at J.P. Morgan. "So far, this is a job-loss recovery."
Nearly half a million jobs have been lost in the last two months. The U.S. government is scheduled to release employment data for April next Friday.
Kenneth N. Gilpin, "U.S. economy grew slowly in first period," The International Herald Tribune, April 26, 2003