Is the U.S. Recession Finally Over?

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April 7 (Bloomberg) -- Michael McKee takes a look at the rise in U.S. jobs market on Bloomberg Television's “In The Loop.” (Source: Bloomberg)

The finale of "true detective." we have hit a milestone in the economy.

American companies have shaken off the great recession.

Friday's jobs report shows the number of private sector jobs is now higher than the pretty recession peak.

-- the pre-recession peak.

Mike mckee is joining me, we should be celebrating?

Sort of, the 192,000 jobs we got friday put us 110,000 over the per-recession peak for private sector employment.

In january 2008, it has taken us this long and recover.

It is only a partial celebration.

The economy would have kept growing had we not had the recession and there would be even more jobs.

We have the sequester, the government has been cutting jobs or keeping them at an even pace.

Who in the private sector is hiring?

Exactly where you would think.

The story of the recession so far has been mining and logging.

Mining has jumped for 21%. north dakota and those places where they are exploring for oil.

Education and health care services hired throughout the recession.

Professional services, this is interesting.

A lot of companies are still relying on remps -- relying on temps and may never go back to full-time employment.

The obvious losers are manufacturing and construction.

20% of construction jobs went away.

Even with all the construction hiring we have seen over the last year, they are up only 3% over that period.

How does this fit into the fed's view?

We do not get a surge, only 190 2000 jobs.

Some things janet yellen said she was looking at, the participation rate rose, that is good.

The number of job leavers was unchanged, the number of part-time workers rose.

They want to see that continue to fall.

There are still some bad signs in the economy.

Look at the number of people who have jobs and went to college -- and those who only went to high school, it is a massive difference in terms of the unemployment rate.

We still have a problem with unemployment for minorities.

The rate for blacks and hispanics is way above the rate for whites.

Thank you so much, mike mckee.

Despite the signs of life you just talked about in the jobs market, senate democrats try again today to pass an extension of emergency jobless benefits.

That would affect more than 2 million americans.

A handful of republicans are on board, but will this past the house?

Peter cook has the details.

They have the votes in the senate.

They have the votes.

This text has been automatically generated. It may not be 100% accurate.

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