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+ {"source_url": "https://web.archive.org", "url": "https://web.archive.org/web/20210918104842id_/https://www.dispatch.com/opinion/20200101/editorial-decade-of-jobs-opportunity-prosperity?rssfeed=true", "title": "Editorial: Decade of jobs, opportunity, prosperity", "top_image": "https://www.dispatch.com/Global/images/head/nameplate/dispatch_logo.png", "meta_img": "https://www.dispatch.com/Global/images/head/nameplate/dispatch_logo.png", "images": ["https://b.scorecardresearch.com/p?c1=2&c2=9289482&cv=2.0&cj=1", "https://www.dispatch.com/Global/images/head/nameplate/dispatch_logo.png"], "movies": [], "text": "The decade now ended delivered an underappreciated benefit to Americans that they\u2019d surely notice if it were missing: extraordinary job growth.\n\nWhile it\u2019s true that the 2010s don\u2019t yet have a defining cultural or political identity, what\u2019s certain is 2019 marked the longest economic expansion in U.S. history. The economy\u2019s been growing since June 2009, when the Great Recession lifted.\n\nEconomic growth begets job creation, so think of the 2010s as the decade of expanding opportunity and prosperity for American workers.\n\nIn early 2010, the U.S. unemployment rate was a sobering 9.7%. Today, the jobless rate is 3.5%, the lowest in 50 years and at a near-record low for African Americans and Latinos. Back in 2010, more than 6 million Americans had been out of work for more than six months. Today, that number is about 1 million.\n\nWhat does 3.5% unemployment mean? It means that if you want a job, chances are good you\u2019ll find one. The labor participation rate for people in their prime working years of 25 to 54 is 80.3%, the highest level in more than a decade. Nationally, there are many more job openings than unemployed people, according to the Labor Department\u2019s Bureau of Labor Statistics.\n\nThere are now some American cities in Iowa with jobless rates at or below 1.6%.\n\nIllinois has higher unemployment (3.9%) than Iowa (2.6%), Indiana (3.2%) and Wisconsin (3.3%), but people everywhere are working \u2014 both collecting paychecks and gaining experience that helps lead to career advancement. What a remarkably positive situation.\n\nThe strength of the jobs economy is one of those good-news stories that doesn\u2019t receive its due, even with the stock market in record territory. When the Brookings Institution asked 10 of its scholars to identify the most important stories in economics over the last decade, none mentioned the 50-year low in unemployment. They preferred to talk about the risk of low interest rates, income inequality and other issues. Not one word about job growth. Really?\n\nPessimism seems to be spread by economists and analysts who are so surprised by the longevity of this growth cycle that they spend their time trying to debunk it by anticipating the next recession. Their predictions have been wrong. Other skeptics, including those seeking the Democratic nomination for president, criticize the free market system for its excesses and instability.\n\nCertainly this economy has weaknesses and shortcomings. There is always a potential recession lurking on the horizon or beyond, just as there is always disparity between those who become wealthy and those who struggle. But the wealthiest Americans aren\u2019t the only ones benefiting as the economy expands. Take stock prices, for example: Gallup polling suggests that about 54% of Americans own stocks either directly or via mutual funds, pension accounts and other retirement kitties. So with the S&P 500\u2019s gain for the year at about 29%, plenty of workers and retirees should be feeling more secure as well as prosperous.\n\nThis decade\u2019s remarkable economic feat is that, even as the growth cycle ages and unemployment falls, employers continue to create jobs \u2014 for the benefit of all Americans. As more people go to work, competition for their services intensifies and wages rise.\n\nThe question business owners, policymakers and politicians should be obsessed with going forward isn\u2019t what\u2019s wrong with this economy, but how to keep the growth going. Because jobs, opportunity and prosperity \u2014 again, for the benefit of all Americans \u2014 are what matter most.\n\nChicago Tribune", "keywords": [], "meta_keywords": [""], "tags": [], "authors": [], "publish_date": "Wed Jan 1 00:00:00 2020", "summary": "", "article_html": "", "meta_description": "The decade now ended delivered an underappreciated benefit to Americans that they\u2019d surely notice if it were missing: extraordinary job growth.While it\u2019s true that the 2010s don\u2019t yet have a defining cultural or political identity, what\u2019s certain is 2019 marked the longest economic expansion in U.S. history. The economy\u2019s been growing since June 2009, when the Great Recession lifted.Economic growth begets job creation, so think of the 2010s as the decade of", "meta_lang": "en", "meta_favicon": "https://www.dispatch.com/Global/images/favicons/dispatch_favicon.ico", "meta_data": {"viewport": "width=device-width, initial-scale=1.0", "og": {"site_name": "The Columbus Dispatch", "title": "Editorial: Decade of jobs, opportunity, prosperity", "description": "The decade now ended delivered an underappreciated benefit to Americans that they\u2019d surely notice if it were missing: extraordinary job growth.While", "image": "https://www.dispatch.com/Global/images/head/nameplate/dispatch_logo.png", "type": "article"}, "msvalidate.01": "7E15F9269E2CE66F2A488ABB04B5015E", "fb": {"pages": 8945512054}, "apple-itunes-app": "app-id=1072821501?at=1000lkC&ct=sb-dispatch", "google-play-app": "app-id=com.dispatch.coldispatch", "description": "The decade now ended delivered an underappreciated benefit to Americans that they\u2019d surely notice if it were missing: extraordinary job growth.While it\u2019s true that the 2010s don\u2019t yet have a defining cultural or political identity, what\u2019s certain is 2019 marked the longest economic expansion in U.S. history. The economy\u2019s been growing since June 2009, when the Great Recession lifted.Economic growth begets job creation, so think of the 2010s as the decade of", "bt": {"pubDate": "20200101T04:01:31Z", "modDate": "20200101T04:01:00Z", "keywords": "editorial"}, "twitter": {"title": "Editorial: Decade of jobs, opportunity, prosperity", "description": "The decade now ended delivered an underappreciated benefit to Americans that they\u2019d surely notice if it were missing: extraordinary job growth.While it\u2019s true that the 2010s don\u2019t yet have a defining cultural or political identity, what\u2019s certain is 2019 marked the longest economic expansion in U.S. history. 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