Today’s Jobs Report

The government reported that 157,000 jobs were created last month. That’s good, not great, but good. The unemployment rate stayed at 4.5%.
The problem I have is that many Americans have left the job market. The number of employed people as a percent of the civilian population is still not very high.
Allow me to chartify:

Warning: The line is bumpy because it’s not seasonally-adjusted. You can see that we’re better than where we were, but far from our best.
If the same percent of the population were employed today as we had seven years ago, that would mean 3.2 million more jobs.

Posted by Eddy Elfenbein on June 1st, 2007 at 2:09 pm

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