Job creation still lagging despite economic growth

Despite that level of growth, job creation isn’t accelerating even as businesses say they’re prepared to hire more workers within the next six months. 

“The U.S. economy is finally, after three years, producing as much as it did before the Great Recession hit,” said Josh Bivens, an economist with the Economic Policy Institute. 

“But this is by no means ‘mission accomplished’ — the 3.2 percent growth registered in the last quarter of 2010 would, if sustained over the next year, provide almost no downward push to the unemployment rate,” he said. 

Although the economy has expanded for six consecutive quarters, the recovery hasn’t pushed the unemployment rate below 9 percent, where it has been stuck for 20 months. 

“We need to foster job creation and help people build new skills and get back to work,” said Sen. Bob Casey (D-Pa.), chairman of the Joint Economic Committee in a statement. “Investments in workers, our children and the nation’s infrastructure are vital to our future and long-term economic health.”