US job situation horrific - economic depression can take Dow below 2000 level
Fred Day
Oct. 6, 2009

Even if the nation could add 2.15 million private-sector jobs per year starting January 2010, it would need to maintain this pace for more than seven straight years (7.63 years), or until August 2017, to eliminate the job deficit, according a recent study.

The job situation in US is depressed. The depression is accelertating downwards with more job losses.

The economic depression can take Dow Jones Industrial Average below 2000 level never seen since late nineteen eighties.

A report authored by Edward J Bloustein School of Planning and Public Policy's Dean James W Hughes and an economist at the school Joseph J Seneca says "Because of the severity of the 2007-09 employment losses due to recession, the US faces a significant employment deficit as it confronts the realities of a post-recession future."

"The 2007–2009 recession is the worst employment setback in the US since the Great Depression," the study stated.

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