US Suffers Huge Job Loses Even In Prosperous Times

From The Wall Street Journal, "The Truth About Bain and Jobs: Job creation and destruction are both relentless. The small difference between the two is what we call prosperity." by Holman W Jenkins:

the work of economists Steven J. Davis and John Haltiwanger. Their painstaking research has revealed a side of America's dynamism that isn't always pretty. Between 1977 and 2005, years roughly overlapping Mr. Romney's business career, some 15% of all jobs were destroyed every year, even as total jobs grew by an average of 2% a year. Job creation and destruction are both relentless, the authors showed in paper after paper. The small difference between the two is what we call prosperity.[Emphasis Added.]