Statement from Bart van Ark, Chief Economist of The Conference Board on Today's Jobs Report from The U.S. Labor Department

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Aug 06, 2010, 09:33 ET

NEW YORK, Aug. 6 /PRNewswire/ -- Small Employment Gains Confirm a Slow-Growing Economy

The modest gain in private sector jobs confirms that the economy remains on a slow growth path, and it's going to be a long haul to rev up the jobs machine. The current pace of employment is too slow to replace the more than 8 million jobs lost in the recession - not in the next year or two, perhaps even not in the next five years. Service industries are picking up very slowly and it's unlikely that industries such as construction and manufacturing will ever return to pre-recession employment levels.

About The Conference Board

The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.

SOURCE The Conference Board