The Unbridled Fury of the Obama Recovery April 12, 2013
Posted by geoff in News.trackback
The Bureau of Labor Statistics released that awful jobs report over a week ago, so I thought I’d update my newish chart to see how we’re doing. This chart ignores the traditional unemployment measures because the number of people who have fallen out of the BLS’s statistical coverage makes those numbers meaningless. Rather, I now plot the number of full-time jobs (> 34 hours/week) against the civilian non-institutional population. It basically compares the number of breadwinners to the number of breadeaters.
So here you go:
Aaaaannnnndddd that’s pretty ugly. But it occurred to me that some may think that I haven’t gone back far enough – after all, the 1990’s could have had lower ratios, right?
Aaaaannnnndddd not so much. Which brings up an interesting question:
At our current furious rate of recovery, how many years will it take us to get to a ratio of 0.5 (the lowest it had been in the 20 years prior to the Great Recession)?
11.
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Innocent Bystanders 
“We tried it our way..and it worked”-Barack Hussein Obama
How does your statistic differ from the Employment-Population Ratio?
I would like to see this done for the 70’s. The closest parallel to Obama was Jimmy Carter and we have gotten similar results with stagflation and high unemployment each time. They say the inflation rate is low now but if you measure it the same way it was done under Carter I think the misery indexes would be similar.
Keynesianism… it will always work after you spend the next trillion dollars.
“they say the inflation rate is low” Yeah, they also say they’ve bought 4 BILLION rounds of hollow point bullets for target practice and the unemployment rate is 7.5%
They use the CPI index to determine the inflation rate which conveniently leaves out the cost of food and energy-gee, I guess that makes sense because there’s no one I know that eats or drives or keep their home warm-I say the true inflation rate is close to if not greater than 10%
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How does your statistic differ from the Employment-Population Ratio?
I’m only counting full-time employment as calculated using the Household Survey.
I would like to see this done for the 70′s.
I may eventually get that far back. It’s kind of a pain to input the data.