US job growth far less than population growth–the widening gap

The Widening Gap: The number of the unemployed in the US doubles in 4 years at government’s “brisk” rate and triples in 4 years at May rate.

According to the US Labor Department the United States added about 69,000 new jobs to the economy in May 2012. Yet according to demographics, about 160,000 new potential workers need jobs each month. Add those numbers to the 12.7 million already on unemployment and, at the labor department’s “brisk” growth rate of 200,000 new jobs per month, it would take over 20 years to get the unemployment rate down to 3%.

In February 2012, 200,000 new jobs growth was considered “brisk” job growth. Yet, 358,000 new jobs for a sustained 4 year period would be required to bring the unemployment rate down to 3% and absorb all new potential workers.

Each month approximately 335,000 young Americans reach the age of 18 and 240,000 older workers reach age 65, pressing the labor market to add 95,000 new jobs for natural population growth. In addition, an average of 83,000 new immigrants arrive in the US each month, and most of them seek work.

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About Gordon Anderson

GORDON L. ANDERSON is the President of Paragon House, Editor-in-Chief of International Journal on World Peace, and Adjunct Professor at the California Institute of Integral Studies. He earned an M.Div. in Christian Ethics at Union Theological Seminary in New York and a Ph.D. in Philosophy of Religion from Claremont Graduate University. He is author of several articles and books including Philosophy of the United States: Life, Liberty, and the Pursuit of Happiness and Life, Liberty, and the Pursuit of Happiness, Version 4.0.

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