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

Posted on October 9, 2010

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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.

The U.S. needs to create 125,000-150,000 jobs each month just to absorb new workers and prevent unemployment from rising. So returning to the old peak employment a decade later would hardly suggest a healthy labor market.

The bottom line: It’s quite possible that the next recession will hit before the U.S. returns to old employment highs.

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

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