Total 10 Year Job Gains: Negative 203k Speaking with Marketwatch’s Rex Nutting, I learned yet another incredible datapoint: Over the past decade, the U.S. private-sector has lost 203,000 jobs. That’s right: Zero job growth for 10 years. In the 1940s, we created 10 million jobs. In the 1990s, we added 19 million new jobs. Even during the much-maligned 1970s, we added almost 16 million jobs. The 2000s might be zero. Some economy, huh? The government has created 2.1 million jobs over that period — primarily teachers. And, that’s the weakest government job growth in nearly two decades. Regardless of party affiliation or who's-to-blame, this has to be a major concern going forward. This is something that's been going on for 10 years - not just during this recession.
Whoops - forgot to include the link: http://www.ritholtz.com/blog/2009/09/total-10-year-job-gains-negative-203k/ LL - what would be the major impact of illegal immigrants? They can only work in cash-based industries or with fake documents. In the latter case, they would count as new jobs.
Also, if you have more illegal immigrants, you have more people in the country, meaning you have to produce more stuff and provide more services (more restaurants, more grocery stores, more medical services, whatever) which should also create jobs.
Clinton changed the way we report unemployment right. What is the unemployment rate compared to the the highs of the early eighties using the old calculations.
Yeah - but I think that was just the unemployment *rate* as opposed to the actual # of jobs created/lost. But there may very well have been a change to the way the # is reported as well.
You have to look at how many jobs have been outsourced overseas. Maybe Ross Perot had a point when he was talking about that "sucking sound" sucking the jobs to other places.
I think Ross may have had quite a few points that went ignored Rocket River We'd rather make fun of folx . .than listen to them
