EmploymentCrossing

NBER Says That Recession over Even As 15 Million Americans Remain Jobless; EmploymentCrossing Finds 180,000 Jobs

Lot of people have given up, they are what economists calls discouraged workers, while we have been able to find over 180,000 jobs in just the last seven days.

 

Pasadena, CA -- (SBWIRE) -- 09/23/2010 -- The National Bureau of Economic Research (NBER), a leading nonprofit economic research institute, has said that the recession was over in June 2009.

The institute is correct in its assessment of the economy because the country recorded a growth of 1.6 percent in the second quarter this year. But the unemployment is still at 9.6 percent, which means 15 million Americans are unemployed. This figure excludes 1.1 million discouraged workers who are not counted in the usual unemployment figures.

Most of the media outlets carrying this report have called the recovery a jobless recovery, with older workers having the hardest time finding a job. Also hard-hit are people without a college degree and those who do not even have a high school diploma. There were 43.6 million people in poverty last year according to the Census Bureau.

CEO A. Harrison Barnes of EmploymentCrossing says he partially agrees with the economists and journalists who are calling this a jobless recovery. “Yes, there aren’t as many jobs as we would like, but its not a completely jobless recovery. Lot of people have given up, they are what economists calls discouraged workers, while we have been able to find over 180,000 jobs in just the last seven days.” Barnes is referring to the fact that his company, EmploymentCrossing, which is a job aggregator website, has been able to find thousands of jobs across the country and in every industry listed on employer websites everyday.