Figure

Federal fiscal relief at the scale of the problem led to a faster recovery from the pandemic recession: Private-sector employment change since business cycle peak, December 2007 and February 2020

Months since peak 2007 2020
1 100.0 100.0
2 100.0 98.9
3 99.9 83.8
4 99.8 86.3
5 99.6 89.8
6 99.4 90.9
7 99.3 91.8
8 99.1 92.6
9 98.8 93.3
10 98.5 93.5
11 98.0 93.4
12 97.4 93.6
13 96.8 94.0
14 96.1 94.6
15 95.4 94.8
16 94.8 95.1
17 94.1 95.6
18 93.8 96.3
19 93.5 96.7
20 93.2 97.1
21 93.0 97.8
22 92.9 98.2
23 92.7 98.7
24 92.7 98.9
25 92.5 99.5
26 92.5 99.9
27 92.4 100.1
28 92.5 100.3
29 92.7 100.6
30 92.8 101.0
31 92.9 101.2
32 93.0 101.4
33 93.1 101.7
34 93.2 101.8
35 93.4 101.9
36 93.5 102.2
37 93.6 102.4
38 93.6 102.4
39 93.8 102.6
40 94.0 102.8
41 94.3 103.0
42 94.4 103.1
43 94.6 103.2
44 94.8 103.3
45 94.9 103.4
46 95.1 103.5
47 95.3 103.7
48 95.4 103.8
49 95.6 104.0
50 95.9 104.2
51 96.2
52 96.4
53 96.4
54 96.6
55 96.6
56 96.7
57 96.9
58 97.0
59 97.2
60 97.4
61 97.6
62 97.7
63 98.0
64 98.1
65 98.3
66 98.5
67 98.6
68 98.8
69 99.0
70 99.1
71 99.3
72 99.5
73 99.6
74 99.8
75 99.9
76 100.1
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Source: EPI analysis of Bureau of Labor Statistics' Current Employment Statistics public data series.

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