Thursday, June 12, 2014

Employment is finally reaching the pre-crisis level

The level of employment is finally after 5 years or so close to the pre-crisis levels. Note that unemployment is considerably down, from around 10 in mid-2009 to 6.3 last May according to the Bureau of Labor Statistics (BLS). The growth in employment has more or less kept pace with the growth of population, while the size of the labor force has been almost stagnant, as seen below.
In other words, what has been growing is the number of workers not in the labor force, which are not counted as unemployed. In other words, not a very good picture.

No comments:

Post a Comment