Twilight Zone Economics: "Since November 2001 ? which the National Bureau of Economic Research, in a controversial decision, has declared the end of the recession ? the U.S. economy has grown at an annual rate of about 2.6 percent. That may not sound so bad, but when it comes to jobs there has been no recovery at all. Nonfarm payrolls have fallen by, on average, 50,000 per month since the 'recovery' began, accounting for 1 million of the 2.7 million jobs lost since March 2001.
...Just to keep up with population growth, the U.S. needs to add about 110,000 jobs per month. When it falls short of that, jobs become steadily harder to find. At this point conditions in the labor market are probably the worst they have been for almost 20 years."
- posted by geoff @ #