South By North Strategies, Ltd.

Writing in The Nation, Mike Konczal describes the lack of job growth during 2011.

In fact, over the past year, employment-to-population has stayed consistently depressed. Every indicator we look at—job openings, the rate at which people quit their jobs for new opportunities, the number of hours worked in the economy—has stayed weak during 2011. With job growth failing to exceed population growth each month, and with no serious increase in the percent of Americans working, 2011 was a lost year for the economy.
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Lost years for the economy have major consequences. Beyond the human misery that results, they put the entire project of liberal governance at risk. Choices made early by this administration resulted in no advancement on three fronts that could bolster the struggling economy: fiscal policy (increasing the deficit through spending on investment and temporary tax cuts), monetary policy (increasing the money supply to stimulate growth), and dealing with the problems in the housing market.