Sunday, December 8, 2013

The long emergency for US workers continues

From AEI.com:

...here’s your trouble:

1. There are still 1.1 million fewer employed Americans today than right before the recession started, despite a potential labor force that’s 14 million larger. And there are 3.6 million fewer full-time workers than back in 2007.

2. The employment rate, the share of Americans with a job, is 58.6% — exactly where it was in November 2009.

3. If the labor force participation rate were where it was a year ago, the jobless rate would be 7.9%, not 7%.

4. More than 4 million Americans remain out of work for 27 weeks or longer.

5. Overall ... it will take another five years to return to 2007 employment levels even at the improved job creation pace of the past four months.
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Link: http://www.aei-ideas.org/2013/12/a-new-normal-november-jobs-report-the-long-emergency-for-us-workers-continues/

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