Forecast: 2.4 Million Added Jobs in 2011 for U.S.

December 29th, 2010
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Calculated Risk:  About 2.4 million jobs could be added inthe U.S. for 2011.  Click "Read more" for graph.

Follow up:

Calculated Risk Employment forecast 2011

Calculated Risk comments:

However, this doesn't mean the unemployment rate will decline significantly. The economy needs to add about 125,000 jobs per month to offset population growth, and I expect the participation rate to increase too - so any decline in the unemployment rate will be slow.

With over 15 million unemployed workers - and 6.3 million unemployed for more than 26 weeks - adding 2.4 million private sector jobs will not seem like much of job recovery for many Americans.

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Note:  GEI has predicted the U.S. unemployment rate will remain in the 9-10% range throughout 2011.  This is not incompatible with adding 2.4 million new jobs, as explained in the comment by CI. 

Tags: calculated risk, employment



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