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Sunday, May 29, 2011

Job Creation: 5 + Years Till "Normal"

Share MSNBC's John Schoen  while commenting  makes a very scary point about the future of Job Creation in the USA:
The math is roughly like this: there are about 125K new people entering the workforce every month due to normal population growth. All other things equal with the data, that means you need at least 125K net new jobs to keep the jobless rate steady. (And all other things are never equal with this data.) 

So anything above 125K helps bring back the 8+ million people who were sidelined by the recession. That's why it's going to take so long to get the jobless rate back to "normal" Even if the economy starts creating, say, 250K jobs a month -every month - it would take 64 months (more than five years) to replace those 8+ million jobs And we're not yet seeing anything like 250K new jobs a month

1 comment:

  1. What about the people who go with pension or who die?


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