Has the economy really recovered? (construction work, employment, 2014, unemployment)

[Mr.2089]

It certainly doesn't seem like it to me. Yet all I hear are lies about how many jobs are being created. Still feels like 2008 to me.

[Serious Conversation]

By virtually every economic metric, things are much better than 2008. There are job gains, perhaps not as fast nor of the type we want, but they are there. The financial markets are not melting down. Things are mending and improving, though gradually.

Anecdotally, the prosperity appears to be limited to major cities.

[chet everett]

Originally Posted by Emigrations

By virtually every economic metric, things are much better than 2008. There are job gains, perhaps not as fast nor of the type we want, but they are there. The financial markets are not melting down. Things are mending and improving, though gradually.

Anecdotally, the prosperity appears to be limited to major cities.

Anyone that remembers the utter chaos of 2008 can say that there were MANY aspects of the economy that literally STOPPED WORKING -- overnight lending / commercial paper ceased trading, Mortgage Backed Securities fell faster than a cannonball rolled off the Empire State Building, CDOs lost all liquidity -- How can mortgage-backed securities bring down the U.S. economy? - HowStuffWorks

The subsequent layoffs / shutdowns at firms like Lehman and Bear Stearns to say nothing of bizarre takeover of AIG and failures of literally hundreds of banks was unprecedented -- https://www.fdic.gov/bank/individual.../banklist.html

AIG Failure Might Have Caused


Toss in the utter ridiculousness of a private firm being "rescued" to appease unions and the scene hopefully will never happen again U.S. Lost $11.2 Billion in GM Bailout, TARP Report Says - Bloomberg

So yeah, things are not "broken" like they were...

Of course there are all kinds of "economists with three or four hands" that are all too happy to explain away lack of labor force participation as simply some "acyclical phenomena". I might go along with things like "retiring baby boomers" or weather related issues but when we see things that just don't add up -- A 'perverse' and chilly jobs report: Unemployment down, but we're leaving the workforce in droves | The Rundown | PBS NewsHour

People that are not working are, by definition, not adding to the GDP. Few honest economists would argue that if GDP does not improve the living conditions of people will suffer --

[Mr.Professional]

Its on its way but you forgot too mention
there are WAY TOO MANY PEOPLE as long as that exists.
It will always be hard to find jobs for the most part.
sad....

[ccm123]

It has for some, but not for others. The economy and the world has changed and if you don't change with it, you will get left behind.

[bobtn]

The economy has recovered.

[pvande55]

Not entirely, but much better than five years ago. Construction was especially dead except for some government work. Now some shortages of construction workers are starting to appear.

[Wartrace]

Yes, the economy is about as good as it is going to get. Welcome to the new normal.

[timberline742]

yes

[Teckeeee]

It's starting to and I think it will get better, just not 99 and no Prince either.