Unemployment Falls: Recession Fears Ease After Jobs Report


"Unemployment is so high, and if you really don't have much job growth, I call it the temporary substitution for full-time jobs and that does not bode well for consumer spending," says Roberts. "These people don't go out and spend money they tend to buckle down."

7 Factoids on the State of Unemployment from a list compiled by ProPublica:

Years it will take to get back to an unemployment rate of 5 percent : four years if we're adding jobs at 350,000 per month; 11 years if we're adding jobs at the 2005 rate of 210,000 per month

Unemployed workers per job opening: 4.98

Months that the unemployment rate has been around 9 percent or more: 28

Amount of stimulus money left to be spent: $122.8 billion of the original $787 billion

Annual rate at which the GDP grew this year: 1.3 percent between April and June, 0.4 percent between January and March

The last time the labor force participation rate was lower than it is now: 1984

Number of people who weren't in the labor force, but wanted work, as of June 2011: 2.7 million

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