Unemployment Numbers for Nov 2013 December 6, 2013Posted by geoff in News.
Today’s BSL report on the Employment Situation seems to contain some good news: unemployment dropped to 7.0%, 203K jobs were created, participation went up, and part-time jobs dropped. All good, but I’m not really feeling it. Maybe that’s because by my metric of the employment situation, we still haven’t made it back to where we were in May:
In fact, since last November we really haven’t made any headway. For a full year our full-time job growth has stagnated as compared with civilian population growth. So while this was a decent month, in the grand scheme it doesn’t amount to anything.
Another creepy factoid: since January 2009 we’ve added 1.1 million people to our labor force. But our civilian non-institutional population has grown by 11.8 million. Yeah, the mouths we have to feed have grown at ten times the rate of our work pool.