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U.S. job market regains losses, yet it’s weaker

  • In this June 6, 2014 photo, cook Kim Jarjabka send out two lunch orders at Coppertop restaurant in Valley City, Ohio. According to research by the National Employment Law Project, restaurants and bars, temporary staffing, and retail account for more than one-third of the job gains in the current recovery.  Wages in these sectors average less than $13.34 an hour. (AP Photo/Mark Duncan)

    In this June 6, 2014 photo, cook Kim Jarjabka send out two lunch orders at Coppertop restaurant in Valley City, Ohio. According to research by the National Employment Law Project, restaurants and bars, temporary staffing, and retail account for more than one-third of the job gains in the current recovery. Wages in these sectors average less than $13.34 an hour. (AP Photo/Mark Duncan)

  • FILE - In this May 8, 2013 file photo, Jeff Caldwell, 29, a chassis assembly line supervisor, checks a vehicle on the assembly line at the Chrysler Jefferson North Assembly plant in Detroit. The U.S. economy finally regained the jobs lost during the Great Recession, but the comeback is far from complete. (AP Photo/Paul Sancya, File)

    FILE - In this May 8, 2013 file photo, Jeff Caldwell, 29, a chassis assembly line supervisor, checks a vehicle on the assembly line at the Chrysler Jefferson North Assembly plant in Detroit. The U.S. economy finally regained the jobs lost during the Great Recession, but the comeback is far from complete. (AP Photo/Paul Sancya, File)

  • FILE - In this Friday, Jan. 11, 2013 file photo, a robot paints brake drums at Webb Wheel Products in Cullman, Ala. The U.S. economy finally regained the jobs lost during the Great Recession, but the comeback is far from complete. Millions of construction and factory jobs have been permanently replaced by new technologies: robots, software and advanced equipment that increases productivity and requires less manpower. (AP Photo/Dave Martin, File)

    FILE - In this Friday, Jan. 11, 2013 file photo, a robot paints brake drums at Webb Wheel Products in Cullman, Ala. The U.S. economy finally regained the jobs lost during the Great Recession, but the comeback is far from complete. Millions of construction and factory jobs have been permanently replaced by new technologies: robots, software and advanced equipment that increases productivity and requires less manpower. (AP Photo/Dave Martin, File)

  • FILE - In this Jan. 22, 2014, file photo, job seekers sign in before meeting prospective employers during a career fair at a hotel in Dallas. The U.S. economy finally regained the jobs lost during the Great Recession, but the comeback is far from complete. (AP Photo/LM Otero)

    FILE - In this Jan. 22, 2014, file photo, job seekers sign in before meeting prospective employers during a career fair at a hotel in Dallas. The U.S. economy finally regained the jobs lost during the Great Recession, but the comeback is far from complete. (AP Photo/LM Otero)

  • In this June 6, 2014 photo, cook Kim Jarjabka send out two lunch orders at Coppertop restaurant in Valley City, Ohio. According to research by the National Employment Law Project, restaurants and bars, temporary staffing, and retail account for more than one-third of the job gains in the current recovery.  Wages in these sectors average less than $13.34 an hour. (AP Photo/Mark Duncan)
  • FILE - In this May 8, 2013 file photo, Jeff Caldwell, 29, a chassis assembly line supervisor, checks a vehicle on the assembly line at the Chrysler Jefferson North Assembly plant in Detroit. The U.S. economy finally regained the jobs lost during the Great Recession, but the comeback is far from complete. (AP Photo/Paul Sancya, File)
  • FILE - In this Friday, Jan. 11, 2013 file photo, a robot paints brake drums at Webb Wheel Products in Cullman, Ala. The U.S. economy finally regained the jobs lost during the Great Recession, but the comeback is far from complete. Millions of construction and factory jobs have been permanently replaced by new technologies: robots, software and advanced equipment that increases productivity and requires less manpower. (AP Photo/Dave Martin, File)
  • FILE - In this Jan. 22, 2014, file photo, job seekers sign in before meeting prospective employers during a career fair at a hotel in Dallas. The U.S. economy finally regained the jobs lost during the Great Recession, but the comeback is far from complete. (AP Photo/LM Otero)

The U.S. economy has finally regained the jobs lost to the Great Recession. But go easy on the hallelujahs. The comeback is far from complete.

Friday’s report from the government revealed an economy healing yet marked by deep, lasting scars. The downturn that began 6½ years ago accelerated wrenching changes that have left many Americans feeling worse off than they did the last time the economy had roughly the same number of jobs it does now.

Employers added 217,000 workers in May, more than enough to surpass the 138.4 million jobs that existed when the recession began in December 2007. But even as the unemployment rate has slipped to 6.3 percent from 10 percent at the depth of the recession, the economy still lacks its former firepower.

To many economists, the job figures are both proof of the sustained recovery and evidence of a painful transformation in how Americans earn a living.

“The labor market recovery has been disappointing,” said Stuart Hoffman, chief economist at PNC Financial Services. “Even with the new peak, there is still a great deal of slack.”

There are still 1.49 million construction jobs missing. Factories have 1.65 million fewer workers. Government payrolls have shrunk, taking middle-class pay with them. Local school districts have 255,400 fewer employees. The U.S. Postal Service has shed 194,700 employees. And during the economic recovery, more people have left the job market than entered it.

Legacy Comments2

Lessee, an obnoxious post comprised of copious text & too many links. Is BlosephSHaas on the "staff"?

'Friday’s report from the government revealed an economy healing yet marked by deep, lasting scars. The downturn that began 6½ years ago accelerated wrenching changes that have left many Americans feeling worse off than they did the last time the economy had roughly the same number of jobs it does now.' It’s not a lie if you believe it…It’s a recovery if you believe it?? The White House and Congress continue to follow the lead of their multinational campaign donors like lambs...pulling America along to the slaughter. There is a simple solution to poor US job creation. Show me a country with weak or ineffective property rights and I’ll show you a country with a weak economy and high unemployment. It’s that simple. Just because they call it “reform” doesn’t mean it is. http://www.npr.org/player/v2/mediaPlayer.html?action=1&t=1&islist=false&id=276448190&m=276545654&live=1 http://www.npr.org/2013/11/06/243022966/secret-persuasion-how-big-campaign-donors-stay-anonymous “patent reform”…America Invents Act, vers 1.0, 2.0, 3.0… “This is not a patent reform bill” Senator Maria Cantwell (D-WA) complained, despite other democrats praising the overhaul. “This is a big corporation patent giveaway that tramples on the right of small inventors.” Senator Cantwell is right. All these bills do is legalize theft. Just because they call it “reform” doesn’t mean it is. The paid puppets of banks, huge multinationals, and China continue to brain wash and bankrupt America. They should have called these bills the America STOPS Inventing Act or ASIA, because that’s where they’re sending all our jobs. The present bill (vers 1, 2, 3, etc) is nothing less than another giveaway for huge multinationals and China and an off shoring job killing nightmare for America. Even the leading patent expert in China has stated these bills will help them steal our inventions. Patent reform is a fraud on America. These bills will not do what they claim they will. What they will do is help large multinational corporations maintain their monopolies by robbing and destroying their small entity and startup competitors (so it will do exactly what they paid for) and with them the jobs they would have created. They have already damaged the US patent system so that property rights are teetering on lawlessness. These bills will only make it harder and more expensive for small firms to get and enforce their patents. Without patents we cant get funded. In this way large firms are able to play king of the hill and keep their small competitors from reaching the top as they have. Yet small entities create the lion’s share of new jobs. According to recent studies by the Kauffman Foundation and economists at the U.S. Census Bureau, “startups aren’t everything when it comes to job growth. They’re the only thing.” Meanwhile, the large multinationals ship more and more jobs overseas. These bills are a wholesale destroyer of US jobs. Small entities and inventors have been given far too little voice on this bill when one considers that they rely far more heavily on the patent system than do large firms who can control their markets by their size alone. The smaller the firm, the more they rely on patents -especially startups and individual inventors. Congress and Obama tinkering with patent law while gagging inventors is like a surgeon operating before examining the patient. Those wishing to help fight big business giveaways and set America on a course for sustainable prosperity, not large corporation lobbied poverty, should contact us as below and join the fight as we are building a network of inventors and other stakeholders to lobby Congress to restore property rights for all patent owners -large and small. for a different/opposing view on patent reform, please see… http://truereform.piausa.org/default.html http://piausa.wordpress.com/ http://www.kentucky.com/2014/05/27/3260938/george-ward-patent-reform-could.html?sp=/99/349/ http://washingtonexaminer.com/patent-reform-like-most-reforms-in-the-end-benefits-the-biggest-guys-with-the-best-lobbyists/article/2524033

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