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US | Job Gap is 9 million

The labor market has added nearly 5 million jobs since the post-Great Recession low in Feb. 2010. Because of the historic job loss of the Great Recession, however, the labor market still has 3.8 million fewer jobs than it had before the recession began in Dec. 2007. Furthermore, because the potential labor force grows as the population expands, in the nearly five years since the recession started we should have added 5.2 million jobs just to keep the unemployment rate stable. Putting these numbers together means the current gap in the labor market is 9.0 million jobs…

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Choosen excerpts by JMM from

via The U.S. jobs deficit is 9 million | Economic Policy Institute.

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Trackbacks/Pingbacks

  1. Pingback: The American Job Gap « Job Market Monitor - November 15, 2012

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