US economic recovery is weakest since World War II
Paychecks are falling behind inflation
WASHINGTON — The recession that ended three years ago this summer has been followed by the feeblest economic recovery since the Great Depression.
Since World War II, 10 U.S. recessions have been followed by a recovery that lasted at least three years. An Associated Press analysis shows that by just about any measure, the recovery that began in June 2009 is the weakest.
The issues go well beyond unemployment, though at 8.3 percent, it’s the highest it has been in many months after the end of a recession.
Economic growth has never been weaker in a postwar recovery. Consumer spending has never been so slack. Only once has job growth been slower.
More than in any other post-World War II recovery, people who have jobs are hurting: Their paychecks have fallen behind inflation.
The Great Recession began in December 2007 and ended in June 2009. Many economists say the anemic recovery is the predictable consequence of a housing bust and a grave financial crisis.