Print Page - How long will it take the job market to recover?

Title: How long will it take the job market to recover?
Post by: jimmy olsen on August 11, 2009, 02:02:45 PM

I was reading an article on higher productivity and lower wages among US workers when I saw this graph.

2012-5! Will it really take this long! :o

http://www.msnbc.msn.com/id/32374533/ns/business-eye_on_the_economy/

QuoteState   Est jobs lost to recession        Est. date of job recovery
     Thousands   Percent
Michigan   -556.6     -12.7   after 2015
Arizona   -264.0     -9.9     2014
Florida   -699.7     -8.7     2014
Nevada   -103.3     -8.0     2013
Oregon   -128.6     -7.4     2014
Ohio     3 -392.1     -7.2     after 2015
Rhode Island   -35.2   -7.1     after 2015
Idaho   -45.5     -6.9     2012
California   -1035.0     -6.8     2013
Georgia   -273.6     -6.6     2013
Indiana   -196.6     -6.6     after 2015
Tennessee   -174.7     -6.2     2013
North Carolina   -254.1    -6.1     2013
Alabama   -120.0     -6.0     2013
Illinois   -352.0     -5.9     2015
Delaware   -25.1     -5.7     2013
South Carolina   -112.0    -5.7     2012
Wisconsin   -165.5     -5.7     2014
Kentucky   -105.4     -5.6     2013
Vermont   -17.1     -5.5     2015
Wyoming   -16.0     -5.3     2014
Connecticut   -86.2    -5.0     after 2015
Colorado   -113.6     -4.8     2012
Minnesota   -133.2     -4.8     2013
West Virginia   -34.1    -4.5     2014
Maine   -27.0     -4.3     2014
Mississippi   -49.5     -4.3     2013
Massachusetts   -139.4    -4.2     2013
New Jersey   -173.3    -4.2     2013
Utah   -52.6     -4.2     2011
Hawaii   -25.6     -4.1    2012
Iowa   -62.5     -4.1     2013
Washington   -117.7    -4.0     2012
Arkansas   -46.6     -3.9     2012
Missouri   -106.2     -3.8     2012
New York   -338.7     -3.8     2012
New Hampshire   -23.7     -3.7     2012
Pennsylvania   -217.1     -3.7     2012
Virginia   -131.4     -3.5     2011
New Mexico   -29.2     -3.4     2011
Oklahoma   -53.8     -3.4     2012
Kansas   -44.7     -3.2     2012
Maryland   -83.6     -3.2     2012
Texas   -311.9     -2.9     2011
Nebraska   -24.9     -2.6     2012
South Dakota   -10.5     -2.5     2012
Montana   -9.9       -2.2    2011
Louisiana   -39.3     -2.0    2012
Alaska   -3.6     -1.1     2011
District of Col   -7.3     -1.0    2010
North Dakota   -2.5     -0.7     2011

Title: Re: How long will it take the job market to recover?
Post by: ulmont on August 11, 2009, 02:08:04 PM

Quote from: jimmy olsen on August 11, 2009, 02:02:45 PM
I was reading an article on higher productivity and lower wages among US workers when I saw this graph.

2012-5! Will it really take this long! :o

The last few recessions have had job losses for 15-19 months after the recession ended. So even if the recession ended today, things could suck until into 2012 nationally, which could easily extend into 2015 for the hardest hit areas.
http://www.calculatedriskblog.com/2009/06/jobs-and-unemployment-rate.html

Title: Re: How long will it take the job market to recover?
Post by: Josquius on August 11, 2009, 02:08:33 PM

I bloody well hope not, or at least that thats just the US. I need a job next year.

Title: Re: How long will it take the job market to recover?
Post by: DGuller on August 11, 2009, 02:14:42 PM

It depends on how fast the economy rebounds after a recession. If the GDP growth would be capped at 4%, it would take five years or so for full recovery in the job market, at least according to Okun's law.

Title: Re: How long will it take the job market to recover?
Post by: saskganesh on August 11, 2009, 02:40:32 PM

make your own job.

Title: Re: How long will it take the job market to recover?
Post by: Darth Wagtaros on August 11, 2009, 03:04:36 PM

Mass. Legislature is projecting recoveery around 2013-2014.

Languish.org

General Category => Off the Record => Topic started by: jimmy olsen on August 11, 2009, 02:02:45 PM