US Jobs lost and gained from January 2008 through December 2011
The great recession that began in December 2007 ended in June 2009 marking the beginning expansion. The recession lasted 18 months. It is the longest of any recession since World War II. The Business Cycle Dating Committee of the National Bureau of Economic Research determined that the recession ended in June 2009 and a recovery started in that month
2008
|
2009
|
2010
|
2011
| |
January
|
-10,000
|
-779,000
|
14,000
|
68,000
|
February
|
-50,000
|
-726,000
|
39,000
|
235.000
|
March
|
-33,000
|
-753,000
|
208,000
|
194,000
|
April
|
-149,000
|
-528,000
|
313,000
|
217,000
|
May
|
-231,000
|
-387,000
|
432,000
|
53,000
|
June
|
-193,000
|
-515,000
|
-175,000
|
20,000
|
July
|
-210,000
|
-346,000
|
-62,000
|
127,000
|
August
|
-334,000
|
-212,000
|
-57,000
|
104,000
|
September
|
-458,000
|
-225,000
|
-24,000
|
210,000
|
October
|
-554,000
|
-224,000
|
210,000
|
112,000
|
November
|
-728,000
|
64,000
|
93,000
|
157,000
|
December
|
-673,000
|
-109,000
|
152,000
|
203,000
|
Total
|
-3,623,000
|
-4,740,000
|
1,143,000
|
1,700,000
|
8,363,000 jobs were lost during 2008 and 2009. Only in November 2009 a gain of 64,000 was reported. In 2010 and 2011 only 2,843,000 were added.
There are 5,520,000 fewer jobs today than there were at the start of the recession. Adding the 4,800,000 jobs needed to account for the normal growth in the working-age population, the jobs deficit comes to 10,320,000. Even at January’s job growth rate (243,000) it would still take about seven more years — until around 2019 — to fill the gap and get back to the pre-recession unemployment rate. To get back to 2007 rate in 5 years 272,000 jobs on average need to be created every month till the end of 2016.
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