I know we’re not supposed to talk about “real” issues here at Write in the Kisser, but there are some mighty fugly charts over at the Center for Economic and Policy Research that I can’t get out of my head indicating that, regardless of what our overall economic status is currently or will be soon, our jobs recession won’t go the way of the dodo for well over a decade.
No, that’s not a typo — or hyperbole.
Case in point: pretty picture number 1:
Now, I realize that all the little numbers might be daunting — that’s why you read blogs in the first place, so you don’t have to dick around with algebra — but think about what this graph is illustrating. Given the precipitous rate of job losses between the beginning of 2008 and the very recent past, even if you generously assume a permanent job recovery rate equal to the one experienced during the roaring aughts (one of the steepest rates on record, incidentally), we wouldn’t return to pre-recession employment rates till sometime in 2014. And that also assumes a zero percent growth in labor force. Once you start factoring all the new people who are going to want jobs someday (the greedy bastards) and add it to all the folks who lost them over the last two years, you get a break even date of 2021. And, again, this all assumes that you’re an incurable, ecstasy-gulping optimist who thinks that job growth will continue at an unprecedented rate for 10 straight years.
Anyway, I don’t really have a punch line to all this doom and gloom, but I guess the takeaway is this: I’ve got a bunker. A large one. With bunk beds. And hundreds of pounds of beef jerky. (Okay, squirrel jerky.) So call me ladies!