WASHINGTON (AP) — Even if Congress heeds President Barack Obama's demands to "pass this bill right away" and enacts his jobs and tax plan in its entirety, the unemployment rate probably still would hover in nosebleed territory for at least three more years.
Why? Because the 1.9 million new jobs the White House says the bill would produce in 2012 falls short of what's needed to put the economy back on track to return to pre-recession jobless levels of under 6 percent, from today's rate of 9.1 percent.
That's how deep the jobs hole is. The persistent weakness of the U.S. economy has left 14 million people unemployed and more than 25 million unable to find full-time work.
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