Laura D'Andrea Tyson over at the blog Economix (see here) has another post on the jobs deficit (I know, it seems that nobody - not Washington and not the American public - is listening). She points out that:
The magnitude of the jobs crisis is clearly illustrated by the jobs gap – currently around 12.3 million jobs. . . . That is how many jobs the economy must add to return to its peak employment level before the 2008-9 recession and to absorb the 125,000 people who enter the labor force each month. At the current pace of recovery, the gap will be not closed until 2020 or later.
She observes that recovery from the type of recession we have experienced (debt and balance sheet driven) has been (historically) very slow. So, once again, another voice questions why there is so much emphasis and energy being expended over the debt limit when the nation has a tremendous job deficit.
A cynical person might begin to conclude that the American public is about to get exactly the kind of government they seem to want so disparately: one that isn't interested in the plight of working men and women (and, no, the Tea Party isn't interested in them either).
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