NEW YORK (CNNMoney) -- The recession ended two years ago according to the by-the-book definitions. But tell that to the nearly 14 million Americans who are out of work.
The unemployment rate is still above 9%. And for those who have jobs, many are involuntarily working part-time because their hours were cut. Others have a temporary job because that's all they can find.
These folks don't need to see the official GDP numbers to know economic growth is anemic.
But in case you do need a refresher on where our economy and job market stand, here's a round-up of some of the key figures:
• About 13.9 million Americans remain unemployed, and of those, 44.4% have been out of a job for more than six months.
The average length of unemployment recently hit 40.4 weeks -- an all-time high since the government started tracking that data in 1948.
As even Fed Chairman Ben Bernanke has pointed out repeatedly, that's a major problem. After six months, job skills can get rusty and employers will often hesitate to hire people who have been unemployed for that long.
• In July, the unemployment rate fell slightly to 9.1%, but that wasn't entirely encouraging. Much of the change was due to workers retiring or giving up on the workforce -- not getting jobs. (Check the unemployment rate in your state.)
• Every Thursday morning, the government reports how many Americans have filed fresh unemployment claims. That number has been above 400,000 for 17 straight weeks now. Many economists say that the weekly jobless claims number needs to get below 400,000 and stay there.
• The economy is growing, but that growth is lethargic and has not been driven by consumers.
The unemployment rate is still above 9%. And for those who have jobs, many are involuntarily working part-time because their hours were cut. Others have a temporary job because that's all they can find.
But in case you do need a refresher on where our economy and job market stand, here's a round-up of some of the key figures:
• About 13.9 million Americans remain unemployed, and of those, 44.4% have been out of a job for more than six months.
The average length of unemployment recently hit 40.4 weeks -- an all-time high since the government started tracking that data in 1948.
As even Fed Chairman Ben Bernanke has pointed out repeatedly, that's a major problem. After six months, job skills can get rusty and employers will often hesitate to hire people who have been unemployed for that long.
• In July, the unemployment rate fell slightly to 9.1%, but that wasn't entirely encouraging. Much of the change was due to workers retiring or giving up on the workforce -- not getting jobs. (Check the unemployment rate in your state.)
HELP, I'M (UNDER)EMPLOYED!
• The so-called underemployment rate is still staggeringly high at 16.1%. This number includes not just the unemployed, but discouraged workers and people who work part-time for economic reasons.• Every Thursday morning, the government reports how many Americans have filed fresh unemployment claims. That number has been above 400,000 for 17 straight weeks now. Many economists say that the weekly jobless claims number needs to get below 400,000 and stay there.
• The economy is growing, but that growth is lethargic and has not been driven by consumers.
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