Job Spectrum

For more than fourteen million jobless Americans, June was a disappointing month. Private firms added only 57,000 jobs. And with state governments besieged - Minnesota's has closed down – near about 40,000 government employees lost their jobs.

After 3 months in which the economy seemed strong, averaging more than 200,000 job gains, in May and June it just flat lined.

"I believe what ensued is that business just froze," asserted economist Mark Zandi. "They are not laying off workers, but they’ve clogged hiring."
Zandi thinks higher gas costs stalled out an economy still attempting to get back to full swing.

"The size of the economy is in fact larger than it was before the downturn hit. Nevertheless, we are lucky if we have got a quarter of the jobs back," asserted economist Lakshman Achuthan.

Achuthan sees a primary budge in the economy that is exaggerated our capability to generate jobs - but asserts the jobs issue was not caused by the downturn.
"Something was ailing our economy prior to the great downturn in the jobs market," he stated.

In the 1970's, 80's and 90's, the United States economy generated more than eighteen million jobs in the course of each decade. But from 2000 to 2007, the economy added only seven million jobs.

"The 7 years before the financial downturn hit marked the worst business cycle we’ve on record as far as job generation goes," asserted economist Heidi Shierholz. "We’ve now faced about eleven years of really fragile job growth."

The supposed underemployment rate, which comprises those who have given up looking or been enforced to work part time, is back up above sixteen percent.