Skip to comments.Jobs Recession Now 49 Months: Longest Since WWII
Posted on 03/09/2012 4:58:23 PM PST by Kaslin
The U.S. economy added 227,000 jobs in February vs. expectations for 206,000, continuing a recent trend of decent hiring activity. The unemployment rate held at 8.3%.
But America remains mired in the longest jobs recession since the Great Depression. It's been 49 months since the U.S. hit peak employment in January 2008. And with nonfarm payrolls still 5.33 million below their old high, the jobs slump will continue for several more years.
The previous jobs recession record 47 months came during and after the comparatively mild 2001 recession, which saw unemployment climb to only 6.3%. The average job recovery time since 1980 is 29 months, not including the current slump.
The labor market won't truly return to health until some 10 million positions are created to rehire all those who lost their jobs and to absorb new workers.
The longest jobs recession in decades coincides, not coincidentally, with the longest stretch of anemic economic performance on record.
(Excerpt) Read more at news.investors.com ...
Is this shovel ready, green or a bad calculator. I believe nothing coming from these criminals, nothing.
Barry’s state-controlled “media” will have unemployment down to 1% by the end of October. They’ll also be telling us that the economy is ripping and that gas isn’t really six bucks a gallon. It’s just our imagination.
The U.S. economy added 227,000 jobs in February vs. expectations for 206,000, continuing a recent trend of decent hiring activity.——
I’m so sick of the lies.
February ‘added’ less than January! So NO it is not a ‘continuing’ trend.
It ain’t 8.3% either.
The economy added 227,000 jobs in February, down from 284,000 in January. That’s 54,000 less than last January.
The economy must add 12.9 million jobs over the next three years358,000 each monthto bring unemployment down to 6 percent.
In the real world, producers have no confidence that this nation will self correct.
First they abandoned the Rule of Law.
Private Property rights will mean nothing if things get worse. The 50%+1 will vote themselves your property.
I think we crossed the Rubicon.
We are going through an economic depression. The only reason it doesn’t meet the technical definition of -10% of GDP is due to the $4 trillion in debt spending the Federal government has used to prop up the GDP numbers, including the Iraq & Afghanistan wars. If the Fed government stopped deficit spending, the depression would be crystal clear.
I think you are right. Hence my sentiment that America’s fall is inevitable and the best we can do now is to slow it down. It is now unstoppable.
If Obamacare is not repealed, then nothing will matter and we won’t even be able to slow the American fall. It will come relatively rapidly. 30-50 years tops.
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