This is an excellent chart produced from Bureau of Labor Statistics data. I have reproduced this same chart from raw data ripped from the BLS website. The headline creates political confrontation between narrowly focused partisan politics. The chart really reflects reduced job losses.
Economic recovery actions worked.
- The stimulus measures and TARP measures passed by the 110th Congress and President Bush in 2008.
- The American Recovery and Reinvestment Act passed by the 111th Congress and President Obama.
Both administrations' economic actions contributed to the slowing of job losses. We still have months to go before employment reaches December 2007 and January 2008 levels.