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 |
|---|---|---|
| 0 | 100 | 100 |
| 1 | 99.99913805 | 98.88601736 |
| 2 | 99.90604744 | 83.78707811 |
| 3 | 99.84140119 | 86.1978785 |
| 4 | 99.62849952 | 89.67714561 |
| 5 | 99.44749 | 90.67463838 |
| 6 | 99.27079024 | 91.61041466 |
| 7 | 99.05788857 | 92.35024108 |
| 8 | 98.8191284 | 92.96663452 |
| 9 | 98.44848986 | 93.27984571 |
| 10 | 98.02354848 | 93.19652845 |
| 11 | 97.38742932 | 93.52285439 |
| 12 | 96.78234037 | 94.05747348 |
| 13 | 96.08674666 | 94.55891996 |
| 14 | 95.4489036 | 94.72246866 |
| 15 | 94.77313474 | 95.01639344 |
| 16 | 94.07323128 | 95.40829315 |
| 17 | 93.83016136 | 95.90048216 |
| 18 | 93.46297062 | 96.28389585 |
| 19 | 93.21731485 | 96.59942141 |
| 20 | 93.04578679 | 97.13481196 |
| 21 | 92.91218453 | 97.61851495 |
| 22 | 92.67773411 | 98.05130183 |
| 23 | 92.68031996 | 98.39691418 |
| 24 | 92.49241484 | 98.90144648 |
| 25 | 92.48638119 | |
| 26 | 92.42001103 | |
| 27 | 92.53982209 | |
| 28 | 92.69497311 | |
| 29 | 92.79237347 | |
| 30 | 92.89322162 | |
| 31 | 92.96821128 | |
| 32 | 93.09233209 | |
| 33 | 93.1854227 | |
| 34 | 93.37332782 | |
| 35 | 93.48969108 | |
| 36 | 93.56985243 | |
| 37 | 93.59312509 | |
| 38 | 93.81292236 | |
| 39 | 94.03530548 | |
| 40 | 94.3128534 | |
| 41 | 94.44731761 | |
| 42 | 94.62056958 | |
| 43 | 94.77141084 | |
| 44 | 94.90759895 | |
| 45 | 95.13773962 | |
| 46 | 95.30064819 | |
| 47 | 95.43769825 | |
| 48 | 95.62646532 | |
| 49 | 95.93849124 | |
| 50 | 96.16346021 | |
| 51 | 96.37377603 | |
| 52 | 96.45479934 | |
| 53 | 96.55823335 | |
| 54 | 96.60477865 | |
| 55 | 96.75044821 | |
| 56 | 96.89611778 | |
| 57 | 97.04954489 | |
| 58 | 97.20555785 | |
| 59 | 97.35726107 | |
| 60 | 97.55981934 | |
| 61 | 97.7399669 | |
| 62 | 97.96924562 | |
| 63 | 98.09853813 | |
| 64 | 98.26403255 | |
| 65 | 98.45969521 | |
| 66 | 98.63639498 | |
| 67 | 98.75448214 | |
| 68 | 98.94928286 | |
| 69 | 99.10701972 | |
| 70 | 99.30526824 | |
| 71 | 99.52161771 | |
| 72 | 99.60091711 | |
| 73 | 99.75693008 | |
| 74 | 99.89053234 | |
| 75 | 100.1025721 |
Source: EPI analysis of Bureau of Labor Statistics' Current Employment Statistics public data series.
This chart appears in:
- What to watch on jobs day: The economy is recovering fast because federal relief matched the scale of the crisis
- One year in, the American Rescue Plan has fueled a fast recovery: Policymakers should use remaining ARPA funds in 2022 to make transformative investments that will build a more equitable economy