Economists: Job Growth Will Average 8,000 Jobs for Rest of Year

The U.S. economy needs to add about 125,000 jobs a month to keep up with average population growth. For the rest of 2010, we're going to get 8,000. That's according to a new survey from the Philadelphia Federal Reserve Bank.

This same group of economists thought that the economy would grow by 120,000 per month a few months ago. That's means that in the last few weeks, some of the nation's smartest economists have revised the year's monthly job numbers from the capacity of the University of Michigan's Big House to the capacity my alma mater's adorably quaint Northwestern Field. Not exactly something to cheer.