Pethokoukis

Everything you need to know about the November jobs report in one chart

120512hps

Good stuff as always from Matt McDonald and the HPS analysis team. A couple of points:

1. Note that HPS puts the demographically-adjusted unemployment rate at 9.7%. The way I calculate it, the rate could be anywhere between 9.2% and 10.4%, roughly. So 9.7% is nice ballpark figure

2. Also, HPS puts at 4.2 million the number of jobs needed to get back to the pre-recession peak. But that doesn’t catch us back up to trend. For that, we need around 13 million new private sector jobs.

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