Multimedia Spotlight

Evolution of the “Jobs Gap” and Possible Scenarios for Growth

Any replication of this chart should be credited to The Hamilton Project at the Brookings Institution.

Evolution of the “Jobs Gap” and Possible Scenarios for Growth

Each month, The Hamilton Project examines the “jobs gap,” which is the number of jobs that the U.S. economy needs to create in order to return to pre-recession employment levels while also absorbing the people who enter the potential labor force each month. As of the end of November 2014, our nation faces a jobs gap of 4.9 million jobs. This chart shows how the jobs gap has evolved since the start of the Great Recession in December 2007, and how long it will take to close under different assumptions for job growth. The solid line shows the net number of jobs lost since the Great Recession began. The broken lines track how long it will take to close the jobs gap under alternative assumptions about the rate of job creation going forward. If the economy adds about 182,000 jobs per month, which is the average monthly rate of growth since the jobs recovery began in March 2010, then it will take until February 2018 to close the jobs gap. Given a more optimistic rate of 228,000 jobs per month, which is the average monthly rate of job creation over the last 12 months, the economy will reach pre-recession employment levels by April 2017.

Use our Jobs Gap Calculator to estimate different scenarios of job growth.
 

The Hamilton Project calculations use data from the Bureau of Labor Statistics.


Recent Multimedia

charts Icon

Evolution of the “Jobs Gap” and Possible Scenarios for Growth

December 5, 2014 • Charts

Each month, The Hamilton Project calculates America’s “jobs gap,” or the number of jobs that the U.S. economy needs to create in order to return to pre-recession employment levels while absorbing the people who newly enter the labor force each month. As of the end of November 2014, our nation faces a jobs gap of 4.9 million jobs.

photo_galleries Icon

New Directions for U.S. Water Policy Photos

October 20, 2014 • Photo Galleries

On Monday, October 20th, The Hamilton Project partnered with the Stanford Woods Institute for the Environment to host a forum, “New Directions for U.S. Water Policy,” in Palo Alto, California. Facebook COO Sheryl Sandberg and former U.S. Treasury Secretary Robert E. Rubin opened the forum. California Governor Jerry Brown gave featured remarks. Three panels of experts discussed the potential for market mechanisms to improve our country’s water management systems; opportunities to promote water innovation; and the impact of climate change on America’s water resources.

audio Icon

New Directions for U.S. Water Policy: Welcome Audio

October 20, 2014 • Audio

On October 20th, The Hamilton Project and the Stanford Woods Institute for the Environment gathered policymakers, industry leaders and academic experts to discuss current economic and environmental issues in U.S. water use and policy. Facebook COO Sheryl Sandberg opened the forum with welcoming remarks, and introduced former U.S. Treasury Secretary Robert E. Rubin.

audio Icon

New Directions for U.S. Water Policy: Introduction Audio

October 20, 2014 • Audio

On October 20th, The Hamilton Project at Brookings and the Stanford Woods Institute for the Environment hosted a forum and released new papers highlighting opportunities for improving water management in the United States in the face of scarce water supplies. Former U.S. Treasury Secretary Robert E. Rubin gave an introduction and roadmap of the event, and introduced California Governor Jerry Brown.

audio Icon

New Directions for U.S. Water Policy: Featured Remarks by Governor Jerry Brown Audio

October 20, 2014 • Audio

The Hamilton Project and the Stanford Woods Institute for the Environment joined forces on October 20th to gather experts on the topic of water policy, drought and climate change in the United States. California Governor Jerry Brown gave featured remarks on the landscape of water in the West, and emphasized his comittment to making water a "key issue." 

Multimedia