Here, in "Jobs, Jobs, Jobs":
"[W]e’ve rarely seen a job market this strong. ... Nonfarm payrolls grew 223,000 in May and are up 2.4 million in the past year. Civilian employment, an alternative gauge of jobs that better measures small business start-ups, grew 293,000 in May and is up 2.3 million in the past year."
Where has Brian been? Living under a rock?
Between 1991 and 2000 annual average total nonfarm grew by 2.6 million a year for nine years straight.
How about between 1983 and 1989? Annual average total nonfarm grew then by almost 3 million a year for six years straight.
Payroll growth right now of 2.4 million a year is barely adding 100,000 net new jobs annually with population increasing at a rate of 2.3 million a year.
We have 16.1 million total unemployed as it is.
At this rate it'll take 161 years to put them all back to work.
What that means is the economy has effectively, and permanently, shrunk.
What that means is the economy has effectively, and permanently, shrunk.
