January 07, 2012
That’s what reporters should have been asking as the Obama administration put a positive spin on the 1.6 million job growth in 2011. The economy has to create roughly 1 million jobs a year to keep pace with the growth of the labor force. With a shortfall of jobs that is currently near 10 million, it will take more than 16 years to get the economy back to full employment at the 2011 rate of job growth.
Reporters should have been ridiculing the Obama administration for their poor grasp of arithmetic for celebrating such a dismal job performance. They certainly should have pointed out to readers the absurdity of their boasts about the recent pace of job growth.
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