(no subject)
I was doing some math out of boredom earlier, just to try to get an idea of when things might improve since I can't even get a callback from walmart and this is what I came up with:
The most recent data I can find puts the jobs lost during the recession at 5.1 million.
Around 125k people join the workforce every month.
The best 4 years of job gains since 1999 produced about 9 million jobs.
So lets take a 5 year period. In order to maintain the current unemployment rate we need 125,000x12x5 = 7.5 million jobs created over 5 years.
Averaging out the best 4 years of job growth since 1999 gives 2.25 million jobs created a year, x 5 years is 11.25 million jobs created.
To get back where we were before the recession over next 5 years we would need a total of 5.1 million + 7.5 million = 12.6 million jobs.
Anyone see the best 4 years of economic growth since 1999 repeating themselves over the next 5 years? I don't think so. Keep in mind these are the official numbers.
after doing some more research it's likely that the amount of jobs that need to be created to keep pace with additions to the workforce will drop off over time IF baby boomers retire.
All I have to say is that for those of you who have a steady job, hang on to it and be very thankful for what you have because I see no way in hell that things aren't going to get an order of magnitude worse before or even if they get better.
The most recent data I can find puts the jobs lost during the recession at 5.1 million.
Around 125k people join the workforce every month.
The best 4 years of job gains since 1999 produced about 9 million jobs.
So lets take a 5 year period. In order to maintain the current unemployment rate we need 125,000x12x5 = 7.5 million jobs created over 5 years.
Averaging out the best 4 years of job growth since 1999 gives 2.25 million jobs created a year, x 5 years is 11.25 million jobs created.
To get back where we were before the recession over next 5 years we would need a total of 5.1 million + 7.5 million = 12.6 million jobs.
Anyone see the best 4 years of economic growth since 1999 repeating themselves over the next 5 years? I don't think so. Keep in mind these are the official numbers.
after doing some more research it's likely that the amount of jobs that need to be created to keep pace with additions to the workforce will drop off over time IF baby boomers retire.
All I have to say is that for those of you who have a steady job, hang on to it and be very thankful for what you have because I see no way in hell that things aren't going to get an order of magnitude worse before or even if they get better.