Look At The Bathtub We Are In
This piece just came across the transom. Yes, things are improving, but look at the tub we are in! We have a long way to go before we get back to the waterline. It will take at least 1-1/2 years (until approximately October 2013) before we get back to the waterline. In the 2001 recession, it took four years (to 2005) before we got back to the waterline and had two years of positive job growth until the 2007 recession hit. Since then, we have gone five years and are about -3% job losses relative to the last peak employment. After October 2013, we will have approximately three to four years of positive job growth before the next recession hits.
Jeff Neely, GSA executive, in the tub again.
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