Employment Growth

In a post at Seeking Alpha, Scott Grannis, reports that the US Government’s two survey methods for estimating employment indicate that for the first ten months of 2010, the U.S. Economy created between 1.1 and 1.4 million jobs.   The magnitude of this  job growth (about  1% annually) is not enough to bring down the unemployment rate.  The reason is that the labor force grows by about 1% each year.  Still, it is positive movement and the addition of 1.1 to 1.3 million jobs over the sixteen months since the recession technically ended in July 2009, is better than what took place following the 2001 recession.   Back then, it took two and one half years for  the economy to add a million jobs.

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