"Job growth surges, a sign of a reviving US economy" by Megan Woolhouse | Globe Staff, July 06, 2013
Although the pace of job growth has accelerated, it is still not fast enough to significantly lower unemployment....
There never was a recovery then.
Many people who had given up job searches when the economy was struggling have resumed searches, another sign that hiring is picking up, economists said....
Despite nearly three years of slow and steady job gains, the nation has yet to regain all the jobs lost in the last recession; employment remains about 2 million jobs below the prerecession peak.
Okay, think of that for a second. Not only has the net number of jobs shrunk by 2 million, there is also the influx of 11-16 year olds in the five year time span that would have been looking for jobs. So all this talk of recovery being pushed by the corporate pre$$ is just that -- or worse!
But if the economy keeps adding 200,000 jobs a month, it will recover all the lost jobs by next year, economists said....
We heard this back in 2010 when they said it would be 2012. Then it became 2014.
Still, recovery remains out of reach for millions of Americans.
The bottom 93% is what they mean.
The number of people employed part time, because their hours had been cut or because they were unable to find full-time work, increased by 322,000 to 8.2 million in June.
And also because of Obamacare.
Economists view this as a sign that the economy remains weak, unable to generate enough full-time jobs. In addition, long-term unemployment remains stubbornly high: Some 4.3 million Americans in June had been unemployed for six months or more.
Harry Holzer, a public policy professor at Georgetown University and author of the book “Where Are All the Good Jobs Going,” said many long-term unemployed end up retiring early or dropping job searches.
Research has shown that the longer a person is unemployed, the more difficult it is for them to find work. Their skills can atrophy and employers discriminate against them....
That explains a lot.
“No one talks about it, which is unfortunate,” Holzer said of the long-term unemployed, noting that the current pace of job growth remains too slow to help them. “It’s still an employers’ market, a buyers’ market.”
The rest of the article is how great everything is.
And why this pos shovel job?
It makes it more likely that the Federal Reserve will follow through on its plan to begin withdrawing stimulus from the economy later this year by cutting back on bond purchases aimed at lowering long-term rates, analysts said.
So the Fed can get out of the money-printing business for a while before it destroys the dollar giving $85 billion a month to Wall Street for crap.
Related: Fed is Working For Workers
Yeah, sure they are.
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