...the study concludes that taking into account the approximately 14 million new job seekers in the future, then the December 2007 unemployment rate will not be met until April 2021! Welcome to the new normal. Of course, both of these analyses assume that the economy will immediately commence growing and generating jobs at the recovery rate seen in the 2000s, when about 166,000 jobs per month were being added. With every month that this does not happen the 2021 date will continue being pushed out further into the future.
Thursday, July 22, 2010
Employment levels
http://www.zerohedge.com/article/us-economy-will-return-december-2007-employment-levels-2021
Labels:
economic growth,
employment,
new normal,
unemployment rate
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