In my last few posts, I’ve discussed the job creation efforts of the Obama Administration, which have had abysmal results.
There are a lot of voices coming to the same conclusion. An editorial in today’s NY Times chimed in about not only “underemployment”, which takes the 10.2% unemployment figures to 17.5% … but about long term unemployment, which takes into account the share of the unemployed population out of work for more than six months. That number continues to set records and reached 35.6%. Here are a few other painful statistics:
- 7.3 million jobs lost since the recession began in December, 2007
- 2.8 million new workers in the work force since the recession – unaccounted for
Result. The economy comes up short by more than 10 million jobs!