Krugman says the economy isn’t recovering at all

Paul Krugman has an interesting post about whether we're in a Japan-style lost decade or not. He notes that Clive Crook in the Financial Times thinks we're flirting with the possibility.

For Krugman  ... we're well beyond that point —

His evidence is this chart, the graph of employment-to-population ratio (click to see).

 Here's Krugman:

What you see isn’t a recovering economy that may be stumbling; you see an economy that has stopped its free fall, but hasn’t really been recovering at all.