think that WE are a pessimist.
With no reason to be one.
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This is Bill@CR's reminder of what is at stake here.
You can NOT say this better yourself.
Unless you read it, of course.
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February's BLS report is out Thursday.
Here is an estimate:
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And we have to remember the numbers are grim:
• There are 7.7 million fewer payroll jobs now than before the recession started in December 2007.
• Almost 14 million Americans are unemployed.
• Of those unemployed, 6.2 million have been unemployed for six months or more.
• Another 8.4 million are working part time for economic reasons,
• About 4 million more have left the labor force since the start of the recession (we can see this in the dramatic drop in the labor force participation rate),
• of those who have left the labor force, about 1 million are available for work, but are discouraged and have given up.
A simple calculation: If the economy is adding 125,000 jobs per month (average over two months), it would take over 5 years to add back the 7.7 million lost payroll jobs - and that doesn't even include population growth. Grim is an understatement.
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Jobs, Jobs, Jobs
http://www.calculatedriskblog.com/2011/02/jobs-jobs-jobs.html
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