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amassafortune (29.19)

March 2010

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Un-Jobs Spur Recovery Toward Double-Dip

March 07, 2010 – Comments (1)

In February 2010, the Obama administration estimated that an average of 95,000 jobs would be created per month during 2010. That’s 1,140,000 units of economic healing I-V drip in the pipeline (or at least envisioned) for 2010. There are two issues with the estimate. First, there were no jobs created in January or February, so now 114,000 jobs need to be created over 10 months for the estimated average to come true. Secondly, even the 114,000/mth rate is not enough to keep up with population growth. An EPI analysis of BLS (Bureau of Labor Stats) estimates that about 138,000 new jobs are needed per month to keep up with population growth. According to EPI, even if jobs growth turns positive immediately, the current 8.4 million lost jobs will continue to grow to an 11 million jobs gap before the damaging trend reverses.   [more]

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