7:48 am May 10, 2012, by Jay
I keeps trying to tell y’all, but do you listen? No.
So maybe you’ll listen to those Marxists at the Wall Street Journal:
“Since the job market bottomed out in February 2010, the U.S. has added 3.7 million jobs, an average of about 134,000 per month. Despite Friday’s disappointing jobs figures, the pace of growth has generally been accelerating: U.S. employers have added an average of 197,000 jobs per month over the past six months, up from 106,000 in the prior six months. That performance looks paltry against rebounds in the 1970s and 1980s, but it compares favorably to the “jobless recovery” that followed the 2001 recession and the double-dip recession of the early 1980s.
The problem is that the employment hole is much deeper this time around. The U.S. lost nearly 8.8 million jobs from 2008 to 2010, more than in the previous four recessions combined.”
As the WSJ also notes, without the massive cuts in government jobs that have accompanied this deep recession, the unemployment rate would be down to 7.1 percent.
– Jay Bookman
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