Nonsequitur: 7.7% Unemployment

March 8, 2013

A slight increase in jobs added as unemployment declines by 0.1%  The numbers for long-term unemployed and underemployed remain the same, as does the ratio of workers to population.  Details here.

For perspective, 8.8 million jobs were lost in the recession.  Since 2008, only about 5.6 million jobs have been recovered.  The population has increased over this time and the number of long-term unemployed has also remained steady.

Basically, 7.7% unemployment is “no growth”.

 

Update:   “More Americans gave up looking for work and dropped out of the labor force last month (296,000) than took new jobs (260,000).”  More depressing details here.

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