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View Full Version : The Obama "Recovery" compared to others



Mainecoons
05-25-2013, 07:54 AM
http://3.bp.blogspot.com/-91JfInc1ZcM/UZ55BC-On1I/AAAAAAAAV-c/Jk5ynlPzQzg/s320/Wallace+April+Employment+2013-05-23.png


Bernanke was touting the direction of employment using the familiar "7.5%" numbers and pointing to all the improvement. While granting that more people are working now than in 2010, we recognize that more people are working part time and less people are working overall than in 2008.

This got me wondering how long it took to recover to pre-recession employment numbers in the past.

Up until the recession of 1982, All drops in employment from one year to the next had fully recovered to new employment highs within 2-3 calendar years. In the recessions around 1982, 1991 and 2001, job recovery took about three calendar years.

In our current malaise, we have been at this 5 years and employment is still 2.2 million people below the employment number in April 2008. Moreover, part-time employment is up about 2 million workers. Thus, full-time employment is 4 million below the 2008 number, 5 years ago.

Read more at http://globaleconomicanalysis.blogspot.com/2013/05/another-look-at-bernankes-employment.html#CbLrgrvFMhjSL7TJ.99

patrickt
05-26-2013, 06:53 AM
President Obama admires how President Roosevelt managed to extend the Great Depression and is simply following one of his mentors.

ptif219
05-26-2013, 07:07 AM
Unemployment rate is down because people have stopped looking not because of job creation.

Peter1469
05-26-2013, 07:24 AM
Right the job participation rate is the lowest since they started counting it.

lynn
05-26-2013, 09:32 AM
It isn't likely to improve until after 2014 when employers see how the ACA will affect everyone.

Peter1469
05-26-2013, 09:46 AM
It isn't likely to improve until after 2014 when employers see how the ACA will affect everyone.

That is true. Regulatory uncertainty keeps business on the sidelines.

Chris
05-26-2013, 10:00 AM
Agree, it's both people stopped looking and companies are holding off in the face of uncertainty.



Don't liberals get up early Sunday's to blame Bush? Wait, wait, here it comes....

Mainecoons
05-26-2013, 12:40 PM
That is true. Regulatory uncertainty keeps business on the sidelines.

Exactly how Roosevelt prolonged the depression. Constant governmental turmoil and change. Nobody knew what the government was going to hit them with next.

ptif219
05-26-2013, 05:16 PM
It isn't likely to improve until after 2014 when employers see how the ACA will affect everyone.

You mean it will get worse when Obamacare kicks in