Friday, January 07, 2011

The real story about jobs: There are fewer and fewer being created!

This from Chart of the Day today. The chart below illustrates the percent increase in the number of jobs for every decade since the 1940s (the data goes back to 1939). It is definitely a shock to see the chart and to contemplate what it means to Americans unemployed and those that worry about their current jobs. Today's chart illustrates that up until this millennium, the number of jobs at the end of a decade has always been at least 20% greater than 10 years prior. During the last decade, not only was that 20% plus growth not achieved, the decade actually ended with less jobs than when it began. This negative job growth is particularly noteworthy due to the fact that the US population had increased by 10% in addition to a significant increase in global wealth during the same time frame. With one year down in the current decade (see gray column), today's chart illustrates that job growth is positive albeit only slightly so. If job growth during the current decade were to increase at the same pace as what occurred during the first year of this decade, the decade would end with an 8.7% gain in jobs (see gray dot). This is certainly better than the decade just passed, however, it is well off the 20% plus pace of decades past.
Let's be clear here, these were the Bush/Cheney years for the most part. They ruined this country for a long time and will go down in history as the worst President and Vice President in the history of the U.S. I am really glad they are gone. But the effects of what they have done to us will last for decades.

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Anonymous Anonymous said...

are we sure this trend of job loss is not due to computerization. That was the buss of the seventies
and it makes sense

1:59 PM  

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