Employment to Population Ratio
Mort Zuckerman, hardly known as a Republican sympathizer, has produced a devastating report on Why the Jobs Situation Is Worse Than It Looks. In the report, he states:
We now have more idle men and women than at any time since the Great Depression.
The Great Recession has now earned the dubious right of being compared to the Great Depression. In the face of the most stimulative fiscal and monetary policies in our history, we have experienced the loss of over 7 million jobs, wiping out every job gained since the year 2000. From the moment the Obama administration came into office, there have been no net increases in full-time jobs, only in part-time jobs. This is contrary to all previous recessions. Employers are not recalling the workers they laid off from full-time employment.
When Bush was in office, the media complained that we need 125,000 new jobs each month just to accomodate increases in the workforce. Remember “the jobless recovery” claims. This is a break even number. The current moron in charge is happy if we add 1 new job in the private sector each month as if it is his great accomplishment and the media gives him a pass. It will take decades to repair the damage this idiot has caused if we can repair it at all.
Meanwhile the propagandist press will keep telling people not to believe their lying eyes, food prices and bank accounts. This is recovery summer !! Now, what will speed that up? Higher taxes, more regulation and another round of quantitative easing! All done to the sounds of angel choirs led by the NYT!