[MarkJ]

$this->bbcode_second_pass_quote('', '[')b]Wait Until 2017 Before Job Market Recovers

In a depressing new report, two Rutgers professors predict that it will take more than seven years to restore the health of the nation’s labor market to prerecession levels.

The report, released on Wednesday, says that even if the nation adds more than two million jobs annually over the next seven years, that will barely offset what the authors see as a giant employment deficit.

The large employment deficit, the report says, was created by the loss of 7.1 million private-sector jobs since the recession began in December 2007 and by the economy’s failure to keep up with labor-force growth — that is, the increasing number of people who want jobs — during the recession.

To return to the labor market conditions of 2007, the report said the nation would not only need to offset the 1.3 million annual increase in the labor force, but would also need to compensate for the job losses suffered during the recession. Given conservative estimates of further declines in employment, the Rutgers professors see an overall employment deficit of 9.4 million private-sector jobs by December 2009.

“Erasing this deficit will require substantial and sustained employment growth,” the report said. Even with an optimistic picture for job growth, the report said, it will take years before the nation returns to prerecession labor market conditions.

The report notes that the economic expansion from November 2001 to December 2007 added 6.2 million private-sector jobs, or 1.0 million a year. It compared that with the creation of 21.5 million private-sector jobs during the expansion from March 1991 to March 2001, coming to 2.15 million a year, and the addition of 18.4 million private-sector jobs during the economic expansion from November 1982 to July 1990, amounting to 2.4 million jobs per year.

“Even if the nation could add 2.15 million private-sector jobs per year starting in January 2010,” the report said, “it would need to maintain this pace for more than 7 straight years (7.63 years), or until August 2017, to eliminate the jobs deficit!”

[hardtootell-2]

Oh Joy! If the jobs situation is that dismal anyone want to guess what the "self employment" arena will look like?
I guessed we would have a 10 yr depression back in 2007 and made moves accordingly.The farm does look a lot better than living on the streets...

[mcgowanjm]

$this->bbcode_second_pass_quote('', 'y')ears to restore the health of the nation’s labor market to prerecession levels.

[hardtootell-2]

I love this comment from that story:

2017?……I am hungry now.
Should we go into hypersleep or hibernation until then waking up with Rip-Van Winkle foot long beards(and that’s just the women).
All the more effort to have the National Academy of Sciences working on a time machine or worm hole to a less bleak future.
I remember when we were supposed to dread 1984 then the Year YK2. Those years turned out to be pretty good ones. Got to remember the next time I am in the library to read more Nostradamus. I predict we will all have beards like him.

MAKE YOUR DESTINY TODAY.
— Drill-Baby-Drill Drill Team

[Daniel_Plainview]

One wonders whether Pelosi & Co. will continue to extend UE benefits until 2017 for those currently unemployed ...

[UncoveringTruths]

How will Baby Boomer retirements effect the jobs picture?

$this->bbcode_second_pass_quote('', 'A')pproximately 35,000 people turn 65 every month in U.S. (This is
enough people to fill up the U of U Rice-Eccles Stadium.) The 65 to 74
age group experienced a relative slow rate of growth 1990-2000 because
this age group reflects a relative low number of births in the late
1920's and 1930's. This trend will reverse as the baby boomers (born
1946-1964) reach 65 starting in 2011 (first of boomers turned age 50
in 1996).?

[Pops]

The highest sectors (this is the regular unemployment # - I don't know where to find the "alternate" number broken out)
17% - Construction
13% - durable goods manf.
11.4% - Leisure and hospitality

The lowest unemployment of course is government and
Self employed and unpaid family workers!

[rangerone314]

$this->bbcode_second_pass_quote('UncoveringTruths', 'H')ow will Baby Boomer retirements effect the jobs picture?

$this->bbcode_second_pass_quote('', 'A')pproximately 35,000 people turn 65 every month in U.S. (This is
enough people to fill up the U of U Rice-Eccles Stadium.) The 65 to 74
age group experienced a relative slow rate of growth 1990-2000 because
this age group reflects a relative low number of births in the late
1920's and 1930's. This trend will reverse as the baby boomers (born
1946-1964) reach 65 starting in 2011 (first of boomers turned age 50
in 1996).?

[Tyler_JC]

But why are we assuming that 65-year-olds will be able to retire?

Many of them will desperately attempt to stay in the labor force working any jobs they can.

Millions of these people have no serious savings and large mortgages.

Talk to lower middle class people in their early 60s who have lost most of their nest eggs in the housing/financial crash of the past couple years. They haven't been saving enough money and they just can't afford to retire.

It's a catch twenty-two. We will either have millions of impoverished elderly people attempting to survive on ever shrinking Social Security checks or millions of elderly people desperately trying to find work at Wally World or anywhere else they can. Most likely some combination of the two.

[Sixstrings]

$this->bbcode_second_pass_quote('MarkJ', 'T')he report notes that the economic expansion from November 2001 to December 2007 added 6.2 million private-sector jobs, or 1.0 million a year. It compared that with the creation of 21.5 million private-sector jobs during the expansion from March 1991 to March 2001, coming to 2.15 million a year, and the addition of 18.4 million private-sector jobs during the economic expansion from November 1982 to July 1990, amounting to 2.4 million jobs per year./

[MarkJ]

$this->bbcode_second_pass_quote('', 'H')m, looks like with each expansion fewer jobs are created than in the previous expansion. And those jobs added during the Bush years was a lot of McJobs.. crappy wages, crappy benefits.

[hardtootell-2]

It is the same thing everyday in my city of 1 million+. I look at the professional engineering/tech jobs posted on job search sites like monster over the last 6 months. There are only a couple of reposts for exotic specialties that cannot be filled. No new Jobs. Occasionally I hear anecdotal reports of huge layoffs. The employers don't want the media coverage. At most 4 jobs posted per day and most are not new. In the "good ol days" there was 30-50 new jobs per day. The people I can see on LINKED-IN are embarrassingly over qualified and you can see that they have been out of work for > 6 months. Professionals are going to be competing with blue hairs and pimply teens for wal-mart greeter jobs.

[Sixstrings]

$this->bbcode_second_pass_quote('hardtootell-2', 'I')t is the same thing everyday in my city of 1 million+. I look at the professional engineering/tech jobs posted on job search sites like monster over the last 6 months. There are only a couple of reposts for exotic specialties that cannot be filled. No new Jobs. Occasionally I hear anecdotal reports of huge layoffs. The employers don't want the media coverage. At most 4 jobs posted per day and most are not new. In the "good ol days" there was 30-50 new jobs per day. The people I can see on LINKED-IN are embarrassingly over qualified and you can see that they have been out of work for > 6 months. Professionals are going to be competing with blue hairs and pimply teens for wal-mart greeter jobs.

[SeaGypsy]

$this->bbcode_second_pass_quote('Sixstrings', '')$this->bbcode_second_pass_quote('hardtootell-2', 'I')t is the same thing everyday in my city of 1 million+. I look at the professional engineering/tech jobs posted on job search sites like monster over the last 6 months. There are only a couple of reposts for exotic specialties that cannot be filled. No new Jobs. Occasionally I hear anecdotal reports of huge layoffs. The employers don't want the media coverage. At most 4 jobs posted per day and most are not new. In the "good ol days" there was 30-50 new jobs per day. The people I can see on LINKED-IN are embarrassingly over qualified and you can see that they have been out of work for > 6 months. Professionals are going to be competing with blue hairs and pimply teens for wal-mart greeter jobs.

[Sixstrings]

$this->bbcode_second_pass_quote('SeaGypsy', 'A')lice Spings Australia:

218 jobs 30,000 people.

[nobodypanic]

$this->bbcode_second_pass_quote('hardtootell-2', 'I')t is the same thing everyday in my city of 1 million+. I look at the professional engineering/tech jobs posted on job search sites like monster over the last 6 months. There are only a couple of reposts for exotic specialties that cannot be filled. No new Jobs. Occasionally I hear anecdotal reports of huge layoffs. The employers don't want the media coverage. At most 4 jobs posted per day and most are not new. In the "good ol days" there was 30-50 new jobs per day. The people I can see on LINKED-IN are embarrassingly over qualified and you can see that they have been out of work for > 6 months. Professionals are going to be competing with blue hairs and pimply teens for wal-mart greeter jobs.

[hardtootell-2]

$this->bbcode_second_pass_quote('nobodypanic', '')$this->bbcode_second_pass_quote('hardtootell-2', 'I')t is the same thing everyday in my city of 1 million+. I look at the professional engineering/tech jobs posted on job search sites like monster over the last 6 months. There are only a couple of reposts for exotic specialties that cannot be filled. No new Jobs. Occasionally I hear anecdotal reports of huge layoffs. The employers don't want the media coverage. At most 4 jobs posted per day and most are not new. In the "good ol days" there was 30-50 new jobs per day. The people I can see on LINKED-IN are embarrassingly over qualified and you can see that they have been out of work for > 6 months. Professionals are going to be competing with blue hairs and pimply teens for wal-mart greeter jobs.

[vilemerchant]

$this->bbcode_second_pass_quote('Sixstrings', '')$this->bbcode_second_pass_quote('SeaGypsy', 'A')lice Spings Australia:
218 jobs 30,000 people.

[TreebeardsUncle]

Actually a large portion of the world's people including the American are economically surplus asfar as the labor market is concerned.