US economic growth expected to be modest in 2011; Forecasts revised above 3% after tax deal + US added only 39,000 jobs in November; Unemployment rate rose to 9.8%; Broad measure was flat at 17%

[mEDITate-OR:
not be staggered by this Brookings Inst jobs recovery prediction...

At the decade of 2000's rate it will take U.S. 142 months, or 12 years...!!!
At the decade of the 1990's rate it will take U.S. 60 months, or 5 years...!!!

MOG.
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Following the issue of US jobs data for October, economists at the Brookings Institution in Washington DC updated the job gap, which is the number of jobs the economy needs to add in order to return to pre-recession employment levels while absorbing the 125,000 people who enter the labour force each month.

The gap was 11.8m jobs.

...if the economy adds about 208,000 jobs per month, the average monthly rate for the best year of job creation in the 2000s, then it will take 142 months, or about 12 years to close the job gap.

At a more optimistic rate of 321,000 jobs per month, the average monthly rate for the best year of the 1990s, the economy will reach pre-recession employment levels in 60 months, or about 5 years

 - Finfacts.

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US economic growth expected to be modest in 2011
Forecasts revised above 3% after tax deal
http://www.finfacts.ie/irishfinancenews/article_1021211.shtml
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US added only 39,000 jobs in November
Unemployment rate rose to 9.8%
Broad measure was flat at 17%
http://www.finfacts.ie/irishfinancenews/article_1021178.shtml
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