Saturday, 23 July 2011

Chart shows how many jobs needed to drop US unemployment rate

The current unemployment rate is 9.2%.  To see what would bring the rate down to 7.0% in three years,
go to the third line and across to the third column.
  208,250 jobs per month will have to be created to rehire the currently unemployed and
hire the new people who increase the work force each month as they immigrate or come of age to work.

From John Mauldin's newsletter, "Thoughts from the Frontline".
He adds: “I went back 50-years on the BLS site and found some very interesting data. The best year for job gains was 1978, when the US added an average of 356,000 per month. Best decade was the 1990’s, with 181,000 average monthly gains During the past 50-years the average gains per month were only 124,000. The worst decade was the 2000’s, which actually saw monthly job losses that averaged 10,000 per month".         
Five years to get to 5% seems like a best case scenario.

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