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Six Million Missing Jobs: The Lingering Pain of the Great Recession

Six Million Missing Jobs

The Lingering Pain of the Great Recession

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The economy continues to add jobs at a steady pace and the Federal Reserve Board is considering its first interest rates hike since the beginning of the recession. Six Million Missing Jobs: The Lingering Pain of the Great Recession shows that the effects of the Great Recession still linger in the form of 6.4 million jobs that were not created, including 3 million college jobs.

Key Findings

1

Eight million jobs were lost between 2007 and 2010.
2

Since the recovery began in 2010, the economy has created 10.6 million new jobs bringing the total employment to 148.9 million jobs.
3

If the Great Recession did not occur, the total employment would be at 155.3 million jobs.
4

Three million of the missing jobs would have gone to workers with at least some college education.

Resources

Despite steady job growth, Six Million Missing Jobs: The Lingering Pain of the Great Recessionshows that the effects of the Great Recession are still with us in the form of 6.4 million jobs that were not created. The report examines the labor market in the recovery and shows:

  • Three million of the missing jobs include college jobs.
  • The economy needs to add 205,000 jobs a month to recover the missing jobs by 2020.
  • There are still 2 million more part-time workers today than before the recession.
  • Nearly a third of all workers have jobs that are temporary, freelance or part-time.
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