In fact, many analysts believe it will take more than a decade for the labor market to fully recover. You can not say to the unemployed to wait ten years. No one expects the private sector is about to pay a small recruiting campaign. 1. Maybe, but when? Now, more than 2.7 percent of our population is unemployed for more than 26 weeks – once all the records since the government began compiling data in 1948.
Counting on a miracle of private sector market is an exercise of faith based on the economy. It is not just for the unemployed to pray for private sector employment, which will never succeed. If we get a real unemployment rate of 5% ( "full employment"), you must create 22.4 million jobs. There is simply no evidence that the private sector can create many jobs we need. (See accounting Leo Hindery is excellent.) There are more than 100,000 new jobs each month just to keep pace with population growth.
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