When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Monday, October 8, 2012

Where Are The Jobs?

Where are the jobs? Forget about the "unemployment rate" and instead look at the employment-population ratio--

Paul Krugman in the New York Times explains:
" . . . the unemployment rate is a problematic measure, because it can fall not because more people are working but simply because fewer people are looking for work. . . An alternative is therefore to count employment rather than unemployment; one simple measure is the employment-population ratio, which suggests no improvement for years:
Info source: St. Louis Fed and Paul Krugman/NYTimes.com

In other words, there has been no improvement in actual "employment" since we hit bottom in 2009!


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects