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Willisms

« Early Voting Locations In Texas. | WILLisms.com | Trivia Tidbit of the Day: Part 881 -- Dependence On Government Grows. »

Trivia Tidbit of the Day: Part 880 -- It May Take Ten More Years Just To Return To Peak Employment Levels.

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

America is in trouble:

tenyearstorecoupjobs.gif
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.

No wonder the Chilean miner situation is so compelling. We need some freaking good news.

Not-so-incidentally, Texas has bounced back best toward pre-recession employment levels, of all the states, according to the good folks at Texanomics:

rebound.gif

We need more Texas-style free market solutions and fewer socialist edicts from Washington, D.C.

-------------------------------------

Previous Trivia Tidbit: Congress Spending Too Much.

Posted by Will Franklin · 13 October 2010 03:46 PM

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