The good news is that nearly 600,000 private-sector jobs have emerged the first half of this year. The bad news is that job growth is a sloooow process. The worst news is that almost half of the currently unemployed (45.5%) have been without a job for six months or more. The GREAT DEPRESSION, which according to economists began in December 2007, will likely be with us for some time. Hopefully not in terms of more lay-offs, but definitely in terms of new-job-growth.
“All told, our economy has created nearly 600,000 private-sector jobs this year. That’s a stark turnaround from the first six months of last year, when we lost 3.7 million jobs at the height of the recession,” President Obama said Friday. “Now, make no mistake – we are headed in the right direction. But… we are not headed there fast enough.”