Monday, March 12, 2018

There is no jobs boom: Full-time in February 2018 is still 6 million behind where it ought to be

For the ten years before the Great Recession, full-time averaged 51.4% of civilian non-institutional population.

In February 2018, we're still down in the basement trying to climb our way out. After ten years! Currently just 49.1% have full-time jobs.

The pre-recession rate applied to the present population level would yield six million more working full-time than there really are. We should have 132 million working full-time. Instead we have 126 million.

There is no jobs boom, just more of the same slow recovery. At this rate it'll still take many more years for full-time to recover to pre-recession levels. The odds of a recession intervening first are high.