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U.S. Won’t Recover Lost Jobs Until March 2020 At Current Pace

Posted By admin On October 10, 2010 @ 4:13 am In Money Watch | Comments Disabled

Ed Carson
Investors.com [1]
Oct 10, 2010

The U.S. economy lost 95,000 jobs in September, far worse than expectations for no change in employment. More Census-related temp jobs ended, as expected, but state and local governments slashed staff far more than predicted.

So far in 2010, the U.S. has added just 613,000 jobs — for a monthly average of 68,111.

Employment bottomed in December 2009 at 129.588 million — two years after peaking at 137.951 million. At this year’s pace, the U.S. won’t recoup all those 8.36 million lost jobs* until March 2020 — 147 months after the December 2007 high.

That would obliterate the old post-World War II record of 47 months set in the wake of the 2001 recession.

The current jobs slump also is the deepest of any in the post-war era, with payrolls down as much as 6.1%. They are still 5.6% below their December 2007 level.

Full article here [1]

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URLs in this post:

[1] Investors.com: http://blogs.investors.com/capitalhill/index.php/home/35-politicsinvesting/2128-us-wont-recover-lost-jobs-until-march-2020-at-current-pace

[2] Having A Supply Of Healthy Foods That Last Just Makes Sense (AD): http://www.efoodsdirect.com//index.html?aid=14&adid=43

[3] Image: http://www.homegain.com/homevalues

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