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It will be years before jobs return
Filed in archive markets by leon on June 15, 2009
It will be years before jobs return


So Barack Obama has declared that his stimulus package will create 600,000 jobs this summer. Don't hold your breath.

According to this report from McClatchy Newspapers , most of the country won't get back to pre-recession employment levels until 2012, and there are parts that will still be struggling for another two years after that. Texas, Oklahoma and Alaska will be the first to come back, no doubt helped by the energy industry and rising oil prices. But rest belt regions like Michigan, Ohio and Indiana will take many years to recover.

What's really alarming about these forecasts is that the rest of the world seems to be focused on recovery coming down the track. The sad part is that parts of the world are going to left behind when the markets bounce back.

Permalink: It will be years before jobs return
Tags: unemployment  mcclatchy  newspapers 
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