March 8. There may have been more jobs created last month than expected, but other figures are less encouraging. E-pop, employment as a percent of the population, which I say is the best measure of the jobs situation is 58.6%, the same number as last month, just one tenth of one percent better than a year ago. According to the latest report the number of people “not in the labor force” is up by 300,000.
Bloomberg News notes that the “Participation Rate”, the portion of workers actually in the workforce, is the lowest since 1981. It also says that the automatic federal spending cuts that went into effect this month should cut 350,000 federal jobs by the end of the year. The New York Times had a piece that bosses are taking a record amount of time to fill open jobs. The article says they want “perfection”.
Of course the stock market bubble, pumped full of air by money printed by the Federal Reserve, is at record heights. Enjoy it while you can.