Jobs Disaster in the US

By the Numbers

Percentage increase per year of jobs in private/corporate sector from late 1980’s to late 1990’s: 2
Percentage increase per year of jobs in private/corporate sector since: declining
Percentage increase per year of jobs in private/corporate sector in 2009: 0

Employment by private companies in March 2010: less than 110 million
Average annual percent growth of economy (GDP) during last ten years: 1.9
Average annual percent growth of economy (GDP) during Great Depression: 1.3
Annual percent growth of economy (GDP) needed to add large numbers of jobs in private/corporate sector: 3 to 4 or more

At the start of 2011, number of unemployed persons per job opening: more than 4

As of March, 2011, percentage of 16-19 year olds unemployed: nearly 25
As of March, 2011, percentage rate of unemployment among blacks: 15.5
As of March, 2011, percentage rate of unemployment among those with less than a high school education: 13.7

Number of people who had reached the maximum 99 weeks of receiving unemployment as of March, 2011: 2 million

As of March, 2011, officially defined as unemployed: 13.5 million
As of March, 2011, persons not in the labor force but a wanting a job: 6.5 million
As of March, 2011, persons working part time but desiring full-time work: 8.4 million
Total: 28.4 million

Figures from The Jobs Disaster in the United States, Fred Magdoff, Monthly Review, June 2011

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