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Six Million Missing Jobs: The Lingering Pain of the Great Recession By: Anthony P. Carnevale, Tamara Jayasundera, Artem Gulish December 14, 2015
Overview • The recovery is in its sixth year and the eﬀects Great Recession are still with us – About 8 million jobs were lost between 2007 and 2010. – Had the recession never occurred, the economy would have 6.4 million more jobs than it has today. – Nearly half of these missing jobs (3 million) would have gone to people with at least some college education
Since the recovery began in 2010, the economy created 10.6 million jobs, but is still 6.4 million jobs short of where it would have been had the Great Recession not occurred.
The jobs gap is largest for workers with a high school diploma or less, 3.4 million jobs.
The economy will need to create 205,000 jobs a month to recover all the missing jobs by 2020.
Conclusion • Despite consistent job growth, the economy still has a long way to go to achieve a full recovery. • Six years into the recovery, the economy is still missing 6.4 million jobs. • Jobs held by workers with a high school diploma or less have been hit the hardest, with 3.4 million missing jobs. • If the economy keeps adding jobs at the current pace, we will recover all the missing jobs by 2020.
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