When Donald Trump campaigned on how “terrible” the jobs situation
was, while the Obama Administration touted the jobs growth since the
employment bottom of the Great Recession in 2010, it sounded like they
were talking about two entirely different economies at different ends of
the world. But they weren’t. Statistically speaking, they were both
right.
Since 2011, the US economy created 14.6 million “nonfarm payrolls” as defined by the Bureau of Labor Statistics – whether or not they’re low-wage or less than full-time jobs. But for individuals, this job market, statistically speaking, looks almost as tough as it was during the Great Recession.
Obviously, a lot of people have found jobs, and some of them have found good jobs since then, and there are a ton of “job openings.” But the Census Bureau just told us why the job market is still, to use Trump’s term, “terrible” when it released its population estimates for 2016, just before clocking out for the holidays.
According to this report: From the beginning of 2010 – in terms of jobs, the darkest days of the Great Recession – through December 2016, the US “resident population” (not counting overseas-stationed military personnel) grew by 16 million people.
http://www.nakedcapitalism.com/2016/12/wolf-richter-new-census-data-shows-why-the-job-market-is-still-terrible-as-trump-said.html
Since 2011, the US economy created 14.6 million “nonfarm payrolls” as defined by the Bureau of Labor Statistics – whether or not they’re low-wage or less than full-time jobs. But for individuals, this job market, statistically speaking, looks almost as tough as it was during the Great Recession.
Obviously, a lot of people have found jobs, and some of them have found good jobs since then, and there are a ton of “job openings.” But the Census Bureau just told us why the job market is still, to use Trump’s term, “terrible” when it released its population estimates for 2016, just before clocking out for the holidays.
According to this report: From the beginning of 2010 – in terms of jobs, the darkest days of the Great Recession – through December 2016, the US “resident population” (not counting overseas-stationed military personnel) grew by 16 million people.
http://www.nakedcapitalism.com/2016/12/wolf-richter-new-census-data-shows-why-the-job-market-is-still-terrible-as-trump-said.html
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