Job market unlikely to recover until 2014

About 14.9 million people are out of work and looking for employment

Associated Press

updated 4:44 p.m. ET, Fri., Sept . 4, 2009

New unemployment data show why it will take years for the labor market to recover from one of its fastest and deepest declines since World War II, even if an economic recovery is around the corner.

The Department of Labor report released Friday showed job cuts in August were lower than they've been in recent months. But a deeper look at the data shows why it will take millions of new jobs to dig American workers out of this recession's deep pit.