Total employment has barely budged in 7 years, while the employment population ratio has plunged much lower. We are even seeing a lower employment/population ratio in the key 25-54 demographic, compared to seven years ago. The U-6 unemployment rate is a very high 11.8%
The unemployment rate (U-3) is 5.9%, slightly above the Fed’s 5.6% estimate for the natural rate.
Thanks President Obama, you’ve given us a European labor market. Workers with good jobs need not fear layoffs; the rest will have to be satisfied with part time work or unemployment.We laugh.