CAVEAT: I try to avoid political posts here at Ambiance. But today, as yesterday, there is some economic news worthy of note.
The new jobs report was released today. I have heard a few people make some optimistic noises about the fact that private sector jobs have matched the 2008 peak in terms of numbers. (See here, for example, though they do have the decency to caveat the hell out of the article.)
What I’m not hearing, and don’t expect to hear from the Administration, is a comment about full-time jobs. As of March 1 2014, the US economy had 3,872,000 FEWER full-time jobs than it did at its peak in November 2007. And that’s after almost five years of recovery.
And given that the working age population has grown considerably in the intervening years, the employment situation is actually even worse than it appears.
So don’t let the bastards tell you how goddamned good we’ve got it, and what a wonderful job they’ve done. Because it just ain’t so.
(Sorry, I’ve been trying to get the graph to embed, but wordpress isn’t accepting the FRED site’s code. I’ll see what I can do to fix it later.)