Here is the bottom line. The higher than expected unemployment rate and the lower than expected labor force participation rate has created a jobs deficit of nearly 5.5 million fewer Americans working than should be in this economic recovery. This 5.5 million employment shortfall is the equivalent of the entire population of Colorado. Another way to think of it is that the jobs shortage nationwide is the equivalent of every worker in Ohio losing their job. Since the beginning of Obama’s first term in January of 2009, the U.S. has regained about 3.7 million jobs. Overall, as measured from the start of the recession, we’ve endured the slowest jobs recovery in 75 years. The Heritage analysis indicates that for every job created under President Obama, we should have more than two. This may help explain why Americans feel so much worse about the jobs situation than what is reported in the official Washington employment statistics.
Posted on: Wed, 25 Jun 2014 20:46:53 +0000
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