Eight million may finally be enough. That's the approximate number of jobs lost since the recession began at the end of 2007. The latest government data show that after 23 straight months of job losses, the unemployment rate has finally stopped rising and started falling. That's the most hopeful sign to date that the tsunami of layoffs is abating. If the trend continues, it will confirm an end to the devastating recession.
But an end to job losses won't solve the unemployment problem. The U.S. economy needs to add more than 100,000 jobs per month just for the unemployment rate to stay even and more than that to get back to an economy that feels healthy. And there's little sign of new jobs popping up in significant numbers anywhere. To understand why, I spoke recently with Carl Schramm, president and CEO of the Kauffman Foundation, a nonprofit group that promotes entrepreneurship. Schramm participated in President Obama's recent "jobs summit" and advocates government incentives to help create and nurture small businesses. Excerpts from our conversation:
Why Jobs Are Easy to Kill but Hard to Create - Rick Newman (usnews.com)