Word: shierholz
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Dates: during 2009-2009
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Economist Heidi Shierholz of the Economic Policy Institute says the economy has lost 6.7 million jobs since the beginning of the recession and that the stimulus bill thus far has generated 750,000 jobs. But in addition to the nearly 7 million jobs lost, the national economy has failed to add the 127,000 jobs per month needed to keep up with population growth. "The real employment hole is 9.1 million jobs," says Shierholz. "The stimulus bill is great, but it will only generate 3 to 4 million jobs. Now that we can see how dramatically things have deteriorated...
...Shierholz says policymakers should begin thinking about a second stimulus package focused on a jobs program. "If we passed a $200 billion jobs bill, that could create roughly 4 million jobs paying between $40,000 and $50,000," she says. "Four million temporary public sector jobs, for a year or two in duration, would bridge the employment gap while the economy recovers." Voting against the $787 billion measure, GOP Senator Lindsey Graham of South Carolina said, "There are so many things in the package completely unrelated to creating a job in the next 18 months." Only 11% of stimulus money...
...jobs program focused on the nation's hardest-hit regions could have an impact. Nationally, 1 in 5 construction workers are unemployed. According to the American Society of Civil Engineers, the nation has $1.5 trillion in unaddressed infrastructure needs. "Clearly there are projects that need to be done," says Shierholz...
...would think because of what went on in the financial-services sector - making this recession a million times worse than it had to be - that we might have seen more of an employment shift," says Heidi Shierholz, an economist at the Economic Policy Institute. "Yet the job loss in manufacturing dwarfs what is going on in financial services...
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