Job Growth needed to get back to 2008 employment

Job Growth needed to get back to 2008 employment

Copyright MSNBC, SHow: Up with Chris Hayes February 3, 2013 (1:34 minutes in). Fair use claimed- low grade image for non profit academic purposes. Graph appears to be based on the figure found on page 3 this Hamilton project (Brookings instution) report: http://www.hamiltonproject.org/files/downloads_and_links/1210_jobs_decade.pdf The dark blue “pessimistic” forecast actually makes an optimistic assumption- that the US can sustain jobs growth equal the the best of the Bush years (2005). Note also that reaching 2008 employment levels does not mean that the US will have restored its employment strength. Our Employment to Population ratio (FRED ‘EMRATIO’) slipped from 63% in 2007 to 58.5%, and this proportion is projected to erode further. The Bureau of Labor statistics projects that jobs will grow at .7% per year from 2010 to 2020. Yet Census.gov projects that our population will increase at .76% . BLS: http://bls.gov/news.release/ecopro.nr0.htm Census: see table 1 at http://www.census.gov/population/projections/data/national/2012/summarytables.html

Updated 10/2013: correction of the location of the table in the Hamilton report
Updated 12/2012 included time code of the discussion in the Hayes show where this graph appeared.

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Posted on 2013-02-03. Bookmark the permalink. Leave a comment.

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