Justin Bieber Will Be a Man Before America's Jobs Return
A study from the Brookings Institution anticipates more than a decade of jobs struggling before we return to pre-recession levels.
America added 103,000 jobs in December, dropping the unemployment rate from 9.8 percent to a slightly less dismal 9.4 percent. But don't think that means the nation's job market isn't going to be floundering for a very, very long time.
According to new data from the Brookings Institution's Hamilton Project, even if America added 208,000 jobs a month starting now, our job market still wouldn't look as it did pre-recession until 2022, more than a decade from now. In order to level out by 2012, we would have to add nearly half a million jobs per month. Here you should remember that, in March 2010, the White House predicted a job growth monthly average of 200,000 for 2011 and 250,000 for 2012.
For some context, consider this: By the time America's jobs situation returns to 2008 levels, Obama will be out of office, Miley Cyrus will be in her 30s, and Seinfeld will have been off the air for almost a quarter century.