Some sobering statistics:
According to the Bureau of Labor Statistics, at the start of the recession in December 2007, the ratio of job seekers to job openings was 1.5 to 1. Now six unemployed workers chase every available job. […]
Economist Heidi Shierholz of the Economic Policy Institute says the economy has lost 6.7 million jobs since the beginning of the recession and that the stimulus bill thus far has generated 750,000 jobs. But in addition to the nearly 7 million jobs lost, the national economy has failed to add the 127,000 jobs per month needed to keep up with population growth. “The real employment hole is 9.1 million jobs,” says Shierholz. “The stimulus bill is great, but it will only generate 3 to 4 million jobs. […]
“There are so many things in the package completely unrelated to creating a job in the next 18 months.” Only 11% of stimulus money was targeted toward infrastructure, and less than 10% of the jobs created have been public sector jobs.
Time: Time for a Real Jobs Stimulus?
(via Workforce Development via Kristin Wolff)