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The Jobs Deficit

The Challenge of Putting America Back to Work
  • and Benjamin Kolansky
April 12, 2010 |

Despite some recent improvement in the labor market, unemployment is projected to remain high for years to come. The jobs deficit, or the difference between the number of unemployed persons and the number of job openings, is 12.3 million. To deal with long-term unemployment and the soaring jobs deficit we need a job-creation agenda that includes both demand-side and supply-side measures: demand-side to boost growth and supply-side to deal with international competition and structural changes.

15 million people were unemployed in March 2010. With only 2.7 million job openings, the jobs deficit stood at 12.3 million.

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