recovery

American Economy Still Down by 5.9 Million Jobs Since 2008

The Bureau of Labor Statistics (BLS) just published the Job Openings and Labor Turnover Summary (JOLTS) report for February. The job openings percent for the workforce hit a 14 year high of 5.1 million, while the layoffs and discharges percentage stayed at a historic low. But despite the job availability rate more than doubling since 2009, the hiring rate only grew by 30 percent in the same period. Adjusted for population growth, the American economy is still down by 5.9 million jobs.

J Pat Carter/AP Photo

Obama’s ‘Recovery’ Freezes Up Again

For the last few months, we’ve heard loud trumpeting about “strong” job reports and signs of economic growth, which the President and his defenders were naturally eager to claim credit for. Not in March.

REUTERS/MARK MAKELA