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THE RESET: Jobs may return as 2016 campaign issue

Published on NewsOK Modified: December 7, 2012 at 12:44 pm •  Published: December 7, 2012

And that's assuming politicians can reach a budget deal to avoid the so-called "fiscal cliff" of across-the-board tax increases and spending cuts due to kick in at the start of the new year.

Heidi Shierholz, an economist for the labor-oriented Economic Policy Institute, suggests "it will take about 10 years" to get back to pre-recession unemployment levels. "This isn't good news."

Forecasters say the economy must grow by 4 to 5 percent a year and add around 350,000 jobs a month — compared to 146,000 last month — to bring the jobless rate down to 6 percent before the 2016 elections.

And much of the recent improvement reflects a drop in the number of adults looking for work — not new jobs.


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