The employment population ratio (fuzzy unadjusted version for fun) has settled into a range last seen in the 1980s. It could even be argued that we are watching that 70s show since the range is not far from the 1970s experience. If we start watching that 60s show again, about 2 percentage points lower, it means the jobs engine is firmly in reverse. Maybe moptops will come back in style.
It grew steeply after the recession in the early 1980s.
ReplyDeleteIt grew a bit less steeply after the recession of the early 1990s.
It grew even less steeply after the recession in the early 2000s.
It is now growing as a wet noodle would.
That's just me being a nattering nabob of negativism. Sigh.
Stagflationary Mark,
ReplyDeleteIt looks like completed head and shoulders chart formation. I don't believe that sharp crash during the credit fraud recession was just demographics. Demographics will eat away at it from here and we also have the robot factor. Perhaps we'll see a gentle drift back to 60s levels.
Where did I put my shades!?
Where did I put my shades!?
ReplyDeleteGrave Creek Mound?