So, that being said, since being in office:
600k more people in the labor force
120k less people employed
800k more unemployed
7.5 million more people not in the labor force.
“If we must have an enemy at the head of Government, let it be one whom we can oppose, and for whom we are not responsible, who will not involve our party in the disgrace of his foolish and bad measures.”
- Alexander Hamilton. Spiritual father of #NeverTrump
And more and more economists.. actual economists, not right wing think tank economists, are questioning the old rule of thumb that you need 250k jobs to keep up with the population growth.
Last edited by PeteEU; 03-12-12 at 07:56 AM.
This is a very useful tool from the Fed:
It shows we would need to add, on average, 179,303 jobs a month to get the unemployment rate under 8% by election day and 101,399 jobs to break even assuming no change in the LFPR.
To show the power of the LFPR, if the rate drops from 63.9% to 63%, we would get to 7.5% unemployment if we added zero jobs.
Last edited by Rhapsody1447; 03-12-12 at 08:10 AM.
"There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio
We know that the BLS will tell us about the precipitous drop in unemployment, but that's not exactly good news.