Post-recovery is taking longer than the past. From 1945 to 1990 it took on average six months for jobs to return to their pre-recession levels. In the recession of the early 1990s, it took fifteen months. In the early 2000s, it took 39 months. Today we are on track for jobs to come back 60 months (five years) after the economy has recovered.
According to the Brookings Institute, the poor in the U.S. grew to an historic high of 46.2 million, and in extreme-poverty neighborhoods, where at least 40% of individuals live below the poverty line, the population rose by one-third from 2000 to 2005-09. The American Dream is receding. Americans are no longer dreaming the same Dream.
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