But the US has lots of company, the UK has been in recession for several months now, and within the last two weeks, Germany and Japan announced that they were also in recession. Governments all over the world have been implementing policy actions to address the root cause of the financial stress and to support global economic recovery.
The labor force participation rate has changed little, on net, this year—another indication of improving conditions in the jobs market, given the demographically driven downward trend in this series.