Pethokoukis

U.S. economy creates just 33,000 net new jobs since January 2009

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Some stunning labor market factoids via Hamilton Place Strategies:

1. Net jobs created under President Obama (from Jan 09): 33,000.

2. Jobs needed monthly for unemployment rate to be below 8% on Election Day if current participation rate holds steady: 279,003.

3. Unemployment if participation rate was at demographic trend 11.5%.

4. Number of “missing workers:” 3.4 million.

5. Jobs needed to return to pre-recession peak (peak of Nov 07): 4.4 million.

 

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