1. There are still 1.1 million fewer employed Americans today than right before the recession started, despite a potential labor force that’s 14 million larger. And there are 3.6 million fewer full-time workers than back in 2007.A 'New Normal' November jobs report: The long emergency for US workers continues
2. The employment rate, the share of Americans with a job, is 58.6% — exactly where it was in November 2009.
3. If the labor force participation rate were where it was a year ago, the jobless rate would be 7.9%, not 7% (and 11.3% if the LFPR were at prerecession levels, though closer to 9% if demographics-adjusted).
4. More than 4 million Americans remain out of work for 27 weeks or longer.
5. Overall, according to the Hamilton Project Jobs Gap calculator, it will take another five years to return to 2007 employment levels even at the improved job creation pace of the past four months.
Friday, December 06, 2013
The long emergency for US workers continues
James Pethokoukis of the American Enterprise Institute on what the Obama Administration and its media allies are NOT telling you about the November jobs report:
Posted by TONY PHYRILLAS at Friday, December 06, 2013