Quick Takes | Jobs and Unemployment

Disastrously high unemployment remains

This morning’s release of the Employment Situation report by the Bureau of Labor Statistics showed that 80,000 jobs were added in October. This level of growth is not far off from the average of the last six months, 90,000. And that is roughly the job growth needed just to keep up with normal growth in the working-age population. At this rate, the labor market will never start putting the backlog of nearly 14 million unemployed workers back to work. In other words, given the enormous scope of the unemployment problem, this minimal level of job creation will keep us mired in disastrously high unemployment.

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