Daily News

Economy Regains Jobs Lost in Great Recession

WASHINGTON, D.C. — Employers added 217,000 jobs in May, pushing total employment to 138.4 million, or slightly above the previous peak reached in January 2008 as the recession got underway, the Labor Department reported last week. The six-plus years it took to fully recover the jobs represent the longest unemployment slump since World War II. The unemployment rate, which held steady at 6.3% in May, remains well above the 4% to 5% levels that preceded the recession, a sign that the economy has not generated jobs quickly enough to keep up with population growth.