If the job creation rate for each and every month is as good as it was for 2005 on average (which was the best year for job creation during the Reign of the Tsar of the Baboons), it will take 140 months to crate as many jobs as were lost in this recession.
That's right, a skosh over eleven years.
At the highest rate of job creation in the Clinton years, it will still take five years to get those jobs back. Supposedly the recovery rate after each recession since the end of the Second World War has been weaker than the one preceding it, so as a nation, we may not be back to where we were until 2025 or so.
Which would put this recovery on a pace with the recovery after the `29-`32 crash, or at least what it would have been if Hitler and Tojo hadn't gotten us on a program of truly massive government spending.
1 comment:
What gets me is how all of this has become accepted to the nattering nabobs as the new normal and therefore doesn't require extra action.
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