Among African Americans in that age group, 38 percent of those in the labor force can’t find a job. Another gauge of the effect that this slow recovery has had on workers is how long it is taking to find a job.
During the late 1990s and early 2000s, very confident households spent and borrowed more, and saved less, in the process extending their balance sheets. That process started to fade in about 2006 and then finished more abruptly when the financial crisis hit.