7 million jobs lost since Dec. 2007, no sign they will return-USA Today

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Millions of private sector jobs will never come back because Obama doesn't want them to. He's spent trillions of our tax dollars to help other countries grow industry.

5/19/11, "Job creation limps along after recession," USA Today, Dennis Cauchon

"Nearly two years after the economic recovery officially began, job creation continues to stagger at the slowest post-recession rate

• since the Great Depression.

The nation has 5% fewer jobs today — a loss of 7 million — than it did when the recession began in December 2007. That is by far the worst performance of job generation following any of the dozen recessions since the 1930s.

In the past, the economy recovered lost jobs 13 months on average after a recession. If this were a typical recovery, nearly 10 million more people would be working today than when the recession officially ended in June 2009....

This unique recession has been particularly unfriendly to job-seekers, experts say. "There was too much employment in housing, and that isn't coming back — and frankly shouldn't come back," says Amar Bhide, a Tufts University professor.

The housing collapse and productivity gains on the factory floor have made it hard for the economy to absorb workers without a college degree and young people generally, says Carl Camden, president of Kelly Services, a global staffing firm. Manufacturers are producing more value than ever in the USA with a fraction of the workers needed before, he says.

How the recovery is reshaping employment:

•Winners. Health care added 449,000 jobs during the 18-month downturn and 483,000 jobs in the 22 months since.

•Losers. Construction lost 2 million jobs — 1.6 million during the recession and 400,000 during the recovery.

•Biggest swing. Auto manufacturing, saved by a government bailout, had the biggest turnaround, from a 35% job loss in the recession to a 6% gain after it ended. That means

• 332,000 jobs lost,
  

followed by

• 42,000 recovered."

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Euphemism of the week by USA Today: "how the recovery is reshaping employment."

There is no recovery if 7 million jobs have been lost with no hope of their return. This article and others imagine a robust economy that exists separately and just fine without industry and long term employment. It is mere conversation that the US will never be able to nurture and grow private sector businesses and employ people as it once did. ed.

via Lucianne.com