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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

[4] US Economy Has To Generate 256K Jobs Per Month Until The End Of Obama’s Second Term To Regain Lost Jobs Since December 2007: http://www.prisonplanet.com/us-economy-has-to-generate-256k-jobs-per-month-until-the-end-of-obamas-second-term-to-regain-lost-jobs-since-december-2007.html

[5] Contrary to Government Claims of 243,000 Jobs Created, Hundreds of Thousands of Jobs Were Actually LOST In January: http://www.prisonplanet.com/contrary-to-government-claims-of-243000-jobs-created-hundreds-of-thousands-of-jobs-were-actually-lost-in-january.html

[6] Maxine Waters: ‘Over 170 Million Jobs Could Be Lost’ Due To Sequestration: http://www.prisonplanet.com/maxine-waters-over-170-million-jobs-could-be-lost-due-to-sequestration.html

[7] U.S. Tourism’s ‘Lost Decade’ Cost Some 500,000 Jobs: http://www.prisonplanet.com/u-s-tourisms-lost-decade-cost-some-500000-jobs.html

[8] 7 Months After Stimulus 49 of 50 States Have Lost Jobs: http://www.prisonplanet.com/7-months-after-stimulus-49-of-50-states-have-lost-jobs.html

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