Job Creation: 3.5 Million a Month Created

3.5 million new jobs are created every month, Kevin Hassett of the conservative American Enterprise Institute said on radio this month. 

They are jobs in the new economy.  He says old declining industries (manufacturing the obvious example) are losing 3.5 million jobs a month.  So it looks like no new jobs are being created.  But the reality is that the Industrial Age jobs are decling, the Internet Age jobs increasing.  This is very different from saying no new jobs are being created.  This is NineShift in action.

Reference: OnPoint Radio for Thursday, October 13, 2011.

This is some of the new data I provided in my speech this week for the Canton, Ohio, Chamber of Commerce Business Fest.

Comments

[D. P. Lubic]

Some important questions:

Are the jobs being created in sufficient numbers? And do these new jobs pay decently? Do these new jobs provide real value?

Hmm, that last could be asked of the jobs certain economists and bankers do. . .

[Harold Jarche]

Do you know the source of these figures? This shows much smaller growth:
http://www.bls.gov/news.release/empsit.t17.htm