Bleak scenario on US jobs
Posted by Stephen Cline on September 7th, 2010The US jobs scene is quite bleak and it is likely to remain so for some time. Since the beginning of the recession 8.4 million jobs have been lost. Again, the US economy has not been performing well which is why it has not been able to create the 2.7 million jobs or so that are needed to employ larger pool of workers in the US economy. All of this is creating problems and huge concerns for the economy and you have not even taken into account all the people who are now working part time or in less than full time jobs. Even if US jobs rise by as much as 300,000 jobs per month which is unlikely, it would take as many as 5 to 8 years before the pre-recession job level is caught up with. All of this is creating a lot of concerns and issues.
There is no sign that US jobs will pick up any time soon, which means that the situation can certainly get worse with time. the Fed Reserve cannot keep interest rates near zero for long and the federal stimulus outlays have also all but run out. So the US jobs scene looks so very bleak for the foreseeable future.