Labor market numbers are out: more of the same

The slow recovery continues. According to the last Employment Situation Summary from the Bureau of Labor Statistics (BLS): "Total nonfarm payroll employment rose by 148,000 in September, and the unemployment rate was little changed at 7.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in construction, wholesale trade, and transportation and warehousing."
The figure above shows that the recovery continues at a very slow pace. And given the political impossibility of additional stimulus, it will likely continue this way. Rational economic policy is not in the agenda any time soon.


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