The Only Graph that Matters: Employment Ratio is in Doldrums
In last 29 months, we’ve had 29 straight months of private sector job growth, 4.5 million jobs created. In this last report, 173,000 private sector jobs created.
Here’s the St. Louis Fed on the Employment Ratio, that is the total number of people employed vs. the total number of jobs. Notice anything over the last 4 1/2 years?
The total number of people working vs the total number of jobs has shrunk 3% since President Obama was elected. Axelrod fails to note the number of jobs destroyed during his boss’s tenure, simply listing off the number “created”. The net is a 3% overall reduction in the workforce.
Hat Tip Pat Hickey