Even if we keep adding jobs at the pace we have for the past three months, it will still be years until we get back to pre-recession levels of employment. The danger that the long-term unemployed will eventually become unemployable makes this reality all the more pressing. Policymakers at the Fed and Congress should still be trying to push harder for monetary and fiscal stimulus. The recovery is real, but it's not so spectacular that we should stop trying to make it better.
Ignore GDP: This Is the Obscure Stat That Explains the Hot Recovery
The recovery is real, even if it's not spectacular, and Gross Domestic Income explains why.