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July 5th, 2010
02:51 PM ET

7.9 million jobs lost – many forever

Chris Isidore
Senior Writer CNNMoney

The recession killed off 7.9 million jobs. It's increasingly likely that many will never come back.

The government jobs report issued Friday shows that businesses have slowed their pace of hiring to a relative trickle.

"The job losses during the Great Recession were so off the chart, that even though we've gained about 600,000 private sector jobs back, we've got nearly 8 million jobs to go," said Lakshman Achuthan, managing director of Economic Cycle Research Institute.

Excluding temporary Census workers, the economy has added fewer than 100,000 jobs a month this year - a much faster and stronger jobs recovery than occurred following the last two recessions in 2001 and 1991.

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Filed under: Unemployment
soundoff (2 Responses)
  1. Richard Iannaccone

    I am 57 and have been in printing for over 40 years and been unemployed for almost 2 years. I must of sent out 200 Resumes over that time and not one interview and my unempoyment just ended and praying for Obama & Congress this week. I never in my life had a hard time with my trade in finding a job but my age and near retirement is hurting many Americans.

    December 13, 2010 at 3:12 pm |
  2. lisa

    I would like to put something out there. I can only imagine the desperation of the 99ers. My son will probably join their ranks in a few months. There is power in numbers, but only if people can see, hear, and feel a physical presence. The "million man" march created an incredible amount of press. I'm not saying the unemployed should march on Washington, but if we coordinate an effort with all unemployed people, not just the 99ers, imagine the impact. Add in our families and the "Million Man" march will be a gathering compared to us. On every large intersection in America,a planned and well publicized demonstration for the American people, Congress and the world to witness. Maybe this is the embarrassment the President and govt needs to act. Please write and let's start the movement. We can all spare 1 day

    December 7, 2010 at 11:05 am |