2017 Before All Jobs to Return

by Ted Gottsegen on Wed, 09/30/2009 - 16:06.

A recent report suggests that even if two million jobs are added per year, it will take seven years to restore employment to pre-recession levels.

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In a depressing new report, two Rutgers professors predict that it will take more than seven years to restore the health of the nation’s labor market to pre-recession levels.

The report, released on Wednesday, says that even if the nation adds more than two million jobs annually over the next seven years, that will barely offset what the authors see as a giant employment deficit.

The large employment deficit, the report says, was created by the loss of 7.1 million private-sector jobs since the recession began in December 2007 and by the economy’s failure to keep up with labor-force growth — that is, the increasing number of people who want jobs — during the recession.

“America faces a troubling arithmetic of employment recovery because of the extreme depth of the employment deficit it now faces,â€