Two graphs on how fast the economy is producing jobs relative to workers.
First, we use the over 16 non-institutionalized population. This is basically everyone legally allowed to work.
Rates above zero indicates jobs created at a faster rate than workers, below zero the opposite.
As you can see we are closing in on rates achieved in the mid 2000s and much sooner than after the dot-com bust. The V shaped nature of this recovery in terms of labor soakage is much more pronounced than after 2001.
Second, we’ll compare to the civilian labor force. These are folks who tell us they are looking for a job.
By this metric we are currently beating anything achieved during the naughts and in the ballpark of the late 90s.
Notedly the recovery was actually faster than decline so that the V is skewed backwards.
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Monday ~ January 2nd, 2012 at 8:37 am
q
calculus 101. if the rate goes up faster, that just means that the integral of the rate is at a lower level if the rate is essentially zero. that’s all it means.
Tuesday ~ January 3rd, 2012 at 10:57 am
The Obama Presidency - Page 905
[...] Re: The Obama Presidency Originally Posted by flash Six trillion in debt in four years with nothing to show for it. Almost no economic growth. Weekly unemployment claims rising and close to 400,000. Unemployment close to 9% with hundreds of thousands of people not even looking for work anymore. Real unemployment estimated at being at 16%. Credit downgrade. Two million less jobs than when Bush was President. Obama had three years to get a recovery going but he blew it because he didn't do anything except go on vacation and play golf and raid the treasury to give money to his special interest groups like the UAW pension fund and Solyndra. Only in Libtardland will Obama's dismal record be viewed as anything other than failure. The election of 2010 and the disapproval numbers for Obama is an indication that the stupid ass Libtards are out of touch with America once again. The Republicans haven't even started yet to remind America of Obama's failure. When they do it will be brutal. http://modeledbehavior.com/2012/01/0…soakage-rates/ [...]
Tuesday ~ January 3rd, 2012 at 4:08 pm
Jeff
Karl,
Newest post from the geniuses at ThinkProgress. Hope you respond, because they continue to attack you with rudeness and complete strawmen, as they have no idea how to respond to thoughtful arguments as your opinions are in no way tied to oil/gas money.
http://thinkprogress.org/green/2012/01/03/396349/global-warming-gulags-and-deep-accountability-a-modest-proposal-for-karl-smith/