September Job Growth Is Only One-Third of Average Job Growth For An Economic Recovery Period

Publication Date: October 2004

Publisher: Center on Budget and Policy Priorities (Washington, D.C.)

Author(s): Isaac Shapiro

Research Area: Labor

Keywords: Job creation; Economic inequality; Economic projections

Type: Report

Abstract:

The number of jobs grew by 96,000 in September.  This is one-third the job growth of 300,000 per month that would have been achieved if job growth had occurred at the rate that is average for a recovery, according to the definition of average used by the chairman of the President’s Council of Economic Advisers.  This continues a pattern predominant during the past year of job growth; with few exceptions, this growth has lagged behind — and usually well behind — the pace of job growth typically associated with a recovery period.