FINANCE

NY Times: Looks Like a Recovery, Feels Like a Recession

ven though the recession ended nearly two years ago, polls show that American workers are feeling stressed and shaky this Labor Day because the nation continues to register month after month of job losses and wages are rising more slowly than inflation.

One factor above all has fueled the insecurity: the nation has lost 2.7 million jobs over the last three years. The recovery has been so weak since the recession ended in November 2001 that the nation's payrolls are down one million jobs from when economic growth resumed.

Indeed, the current economic expansion is the worst on record in terms of job growth. The average length of unemployment, more than 19 weeks, spiked this summer to its highest level in two decades.