For Laid Off, Few Signs of Recovery

Construction, manufacturing particularly hit hard
By Mark Russell,  Newser Staff
Posted Dec 2, 2011 2:31 AM CST

(Newser) – Only 7% of people who lost their jobs since the financial crisis of 2008 have returned to jobs as good as or better than the ones they used to have, reports the New York Times. Most people who have found new work say it is less lucrative, and 15% say that reduction has been "dramatic" and most likely permanent, according to a new study released today by the John J. Heldrich Center for Workforce Development at Rutgers. “The news is strikingly bad,” said a professor of public policy and political science, adding that the numbers represent “a tremendous impression of dislocation and pain and wasted talent.”

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The recovery officially started two years ago, but fewer than a quarter of jobs lost during the recession have come back. Construction is one of the hardest hit sectors, having added just 47,000 jobs after shedding 2 million in the recession. Manufacturing has restored just 13% of jobs lost. “It’s just hard,” said one man who was laid off three years ago. “What can you do to get back on track?” (Read more recession stories.)

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