Job market expected to recover in 2014

Filed under: Economic data, Headline news, Recession

The rate at which jobs were cut slowed in August, but the gap to be filled will be with us for a while. With 14.9 million people looking for jobs according to Moody's Economy.com, the unemployment rate won't hit 5% -- considered "normal" -- until 2014. To put this in perspective, we still have one presidential election and two mid-term contests between now and a full employment recovery.

Data published by the Department of Labor Friday puts the unemployment rate at 9.7%. In December 2007, it was only 4.7%. And, as BloggingStocks reported on Friday, it could pass 10% by the end of 2009. For teenagers, the unemployment rate has reached 26%. The number of job-seekers who have given up completely is above 750,000 -- the highest level since the Department of Labor started keeping score in 1994.

Continue reading Job market expected to recover in 2014

Job market expected to recover in 2014 originally appeared on BloggingStocks on Sat, 05 Sep 2009 17:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Full story at http://www.pheedcontent.com/click.phdo?i=85c14636f0c54d86a8b7ad5f6bb4d0ab