I So Want to See Accelerating Job Growth, and It Is So Not Happening

Second quarter job growth was delightfully strong—277,000 jobs added per month on average—and even I got excited that maybe the pace of job growth was meaningfully accelerating. But July’s job growth of 209,000 certainly dampens those hopes. Over the 12 months from July 2013–June 2014, job growth averaged, yes, 209,000 per month. Sigh. At this pace, it will take nearly four years to get back to health in the labor market.

jobs_M-o-M payroll change

  • Fred Carstensen

    Why is no one talking about sequestration? It is clearly cutting growth rates by 20-40% and thus job creation by nearly as much. The reason we aren’t seeing any 300,000 job creation months is because of sequestration! Any discussion of job growth should start with how we are killing our own economy–now and in the future as sequestration translates into deteriorating infrastructure, restricted public investment in R&D, and a host of long-term negatives for our economy.