Obama Recovery Still Feeble After Two Years
But the fact is that the Obama recovery is one of the worst ever. Certainly the worst since the Great Depression. It's so bad, in fact, that even 24 months after the recession officially ended there are few places beyond the stock market and corporate profits that have shown much, if any, improvement. A few examples:
Unemployment: While the unemployment rate has dropped a bit, the number of long-term unemployed is up by a third, and the average length of unemployment is now a staggering 38 weeks.
Earnings: Median weekly earnings are down slightly between Q3 2009 and Q1 2011, after adjusting for inflation, according to the Bureau of Labor Statistics.
Housing prices: The National Association of Realtors reports that median price for existing home sales dropped 10% since June 2009.
Gas prices: Pump prices climbed 52% over the past two years, according to the Department of Energy.