The economy may be growing again, but employers aren't hiring...This is a jobless recovery!

Despite a "supposed" economic expansion, businesses are still unsure about the future with respect to the job market.  The unemployment was 10.2% in October, from 9.8 percent, in September. I feel this rte is much higher. It does NOT account for small business owners that have closed down, individuals who have come off unemployment rolls yet still remain unemployed. Nor does it account for the masses who are working part-time since they can't find full time employment. That rate is more like 16.8%, based on government statistics.

All of these factors could keep a true recovery from taking hold, as people have less money to spend and questions about their own job prospects.

The number of private jobs (non-government) is below the level of August 1999 -- meaning that almost ten years has passed without any net creation of jobs. This while the population has grown by approximately 40 million people. In other words, we have had 10 years of zero employment growth.

Most economists are forecasting that job growth will resume in early in 2010.

Interestingly enough, the 2001 recession, for example, ended in November 2001. But the unemployment rate did not reach its high for that economic cycle until June 2003.

Eric Brooks, CPA/MBA

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