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Employment Has Flatlined May 6, 2022

Posted by geoff in News.

The BLS published the Employment Situation Report today, so I thought I’d brush off the old employment graph and update it somewhat. By “somewhat” I mean that I only updated it back to January 2020. The BLS updates numbers going back a decade, so my pre-2020 number are a little old.

Anyway, as you may recall, my curve is an attempt to gauge the health of employment by tracking the number of full-time jobs. To do that, I take the employment numbers from the Household survey and subtract the part-time jobs. Then I divide by the population (the civilian non-institutional population, to be exact).

Here’s what that looks like going back to 1990:

And here’s a closeup of more recent years:

As of January of this year, the % of full-time jobs stopped increasing. Sadly, the increase halted just before it got to pre-COVID levels. Even more sadly, we’re nowhere near 0.52, which was kind of our average before the Great Recession.

Can’t blame the 4-month lull on COVID anymore, and you can’t blame it on Russia. Blame of the administration, however, is not so easily dismissed.


1. Jimbro - May 6, 2022

Definitely Putin’s fault

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