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mhr Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 12:14 AM
Original message
The Missing 9.4 million Jobs
http://www.comstockfunds.com/index.cfm?act=Newsletter.c... ...

Comstock Funds
Charlie Minter
7 April 2004

Although the 308,000 increase in March payroll employment may seem like a lot compared to what weve been getting and what most have been expecting, it actually falls far short of what we should be seeing at this stage of a recovery. Heres what we found in examining the last seven economic recoveries.

In the first six of these recoveries beginning with May 1954 employment rose by an average of 7.7 percent over the first 28 months with a high of 9.1 percent and a low of 5.5 percent. This includes one cycle that peaked in 24 months with a gain of 7.4 percent. Even in the recovery that started in March 1991, employment climbed 2.2% over the first 28 months. For all of the seven recoveries, employment rose by an average of 6.9 percent over 28 months. So lets not hear any more about employment being a lagging indicator. It is not, and even if it were, 28 months is surely enough time to catch up.

In the current recovery employment has actually declined 0.2 percent in the first 28 months that includes the March number and the revisions that were released on Friday. If employment had increased by 6.9 percent, the average of the past recoveries, March payrolls would have come to about 139.9 million rather than the 130.5 million actually reported. This means that there are now 9.4 million fewer jobs than there should be at this point in the cycle, and that we needed an average increase of 322,000 jobs for each of the past 28 months to equal the average job growth of the last seven expansions.

Snip ......
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TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 12:28 AM
Response to Original message
1. Exactly!
This is the exact same point I've been making for months and months. We're nearly 10 million jobs behind anything that could be called adequate employment -- which I call minimal economic enfranchisement.

The following graph shows how severe this economy is in terms of employment. It's an abomination!

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TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 01:09 AM
Response to Reply #1
2. Here's a view of the "Seasonally Adjusted" employment numbers ...


And just to focus in on the Busholini Enronomy, here's an enlargement ...

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mhr Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 09:49 AM
Response to Original message
3. Kick For Exposure!
eom
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TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 06:31 PM
Response to Original message
4. This should really be a set of facts EVERY liberal learns.
IMHO
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