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  • Chart of the Week: Slow Job Growth Means a Slow Economic Recovery

    President Obama will deliver his third State of the Union address on Tuesday night. According to a preview video released this weekend, the speech will outline Obama’s vision for improving the economy and creating jobs.

    With an unemployment rate of 8.5 percent, there’s much work to be done. But after three years of Obama’s failed policies, it’s unclear if anything Obama says Tuesday night will differ from the Keynesian ideas he’s already proposed.

    This week’s chart comes from Heritage’s analysis of the December unemployment report. The economy added 200,000 jobs last month. But even at that rate, it would take nearly five more years for the unemployment to return to around 5 percent.

    Posted in Featured, Ongoing Priorities, Scribe [slideshow_deploy]

    6 Responses to Chart of the Week: Slow Job Growth Means a Slow Economic Recovery

    1. I've always viewed "Jobless recovery" as spin…if you are one of those unemployed, or under employed, there is no "recovery"

    2. richardcaro says:

      Unemployment numbers are comprised of those that are in the job market for the past 30 days. It does not include those that have not been in the job market in the last 30 days: people who have given up looking; those that have gone off unemployment because it has run out. One solution to unemployment is High Speed Universities check it out

    3. richardcaro says:

      But for the right individuals online degrees bend to personal schedules, are available 247, and may sustain the student that simply has no other choice, check out High Speed Universities for advantages and disadvantages of online degrees.

    4. jimyardley says:

      Perhaps we should stop educating people from all over the entire planet at colleges and universities supported directly or indirectly by U.S. taxpayers. Without foreign employees enjoying the benefits of U.S. education, how successful would American corporations be in moving domestic jobs offshore? Non-citizens do not, as far as I know, have any "right" to come here to learn, oh, say, nuclear engineering. Domestic university administrations and the denizens of faculty lounges can whine all they want, but absent the issuance of a student visa, they will whine and gnash their teeth in the wilderness. What a shame.

    5. steve h says:

      Funny how you call them failed policies, when it's been such a massive swing in the right direction. For a President to take over when the country is losing 750,000/jobs a month and then averages adding about 150,000-200,000 private sector jobs a month – looks like a grand success to me. Sure, we need to add many more, but based on how deep the recession was and how bad the job growth and economy was, it's astonishing how much you criticize.

      GDP change from 3rd quarter of 2008 to 4th quarter 2008 was -8.6%. Negative 8.6% change in GDP – the worst quarter to quarter change in the history of our country, including the great depression and under Obama, the percent change from quarter to quarter has averaged +2 to +3 each quarter. And yet, you call it a failure. Just sad how biased and how much misinformation you can shoot out there.

      These are facts – and indisputable. Look them up.

    6. Michael says:

      Not really conservative or liberal. My background is as a scientist in with experience in protozoa disease. I have looked at lots of charts and statistical analysis over my life and am just curious how one can base a projection of growth or lack thereof based upon a single datum point of one month (December).

      Economics is not my strong suit, but there seems to be a large amount of error introduced into such a projection. And it would seem to undercut any credibility for the argument being made.

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