The Economic Policy Institute (EPI) recently pointed out that while Wall Street has already made up all the profits lost in the depression, recession, economic slump, the job market remains stalled. The country’s labor market still has far fewer jobs than it did at the start of the recession in December 2007.
The chart from EPI shows trends in both corporate profits (both privately and publicly owned) and employment since the start of the recession. The chart indexes both to 100 at the start of the recession so the lines show how far profits and employment have recovered. Although corporate profits suffered in the early part of the recession, they have been steadily growing for more than a year and are now 5.7% greater than they were at the start of the recession.
Ralph Bach has been in IT long enough to know better and has blogged from his Bach Seat about IT, careers, and anything else that catches his attention since 2005. You can follow him on LinkedIn, Facebook, and Twitter. Email the Bach Seat here.