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Job Market Recovers Losses Yet Appears Weaker

Associated Press (06/08/14) Josh Boak; Christopher S. Rugaber

While the most recent jobs report indicates that the U.S. economy has finally regained the jobs lost during the Great Recession, many economists believe the figures underscore a transformation in the labor market. The construction industry still has not regained 1.49 million jobs, and factories have 1.65 million fewer workers, which some attribute to new technologies that boost productivity while requiring less manpower.

Additionally, the number of part-time workers has jumped 2.5 million since the recession to over 27.2 million. Meanwhile, the economy has 2.9 million fewer full-time workers than before the recession.