Needed: eight million new jobs instantly
When we had about 5% unemployment just a few years ago, we had about one-half as many unemployed people as now.
Currently we have 10% unemployment (rounded) out of a 150 million workforce, or 15 million unemployed
The reason the word "instantly" is used in the subject is that every year we have new ones enter the workforce and of course more retiring.
It boils down to us needing about eight million jobs now, or about two million per year for five years to catch up to 5% again.
Construction will not increase much over the five years; all those "unneeded jobs we had paying for with credit, are gone; the health industry can not add many more or health care costs will require us not to use it!
We can start up manufacturing again but that is a 20 year project.
So where do we get two million + job every year netted.
We don't, due to the lost assets and credit splurge that wasted our assets!
So, it won't be back to mormal again for at least 6-7 years and likely 10 years.
We can do as we did in 2002 and start a couple of wars and hike the debt from 13 trillion to say, 20 trillion and again fake it with credit.
Or, we can all go back to a 1980 standard of living for each of us, with 10% unemployment.