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The author of this article asks a very pointed question, he asks if there is truly an economic recovery where would we find evidence of it?
Well one of the first places we should look is the employment participation rate of the people in the "working age" demographic. That demographic is age 25-54, those out of school, yet but not retired.
And yet when we look at the governments own statistics we find that we are at the lowest level of employment in 30 years and even lower than the so called great recession of 2008.
If the "recovery" continues at the current rate, we can all look forward to increased competition for scarce jobs and the lower wages that goes with that supply / demand divergence.
Well one of the first places we should look is the employment participation rate of the people in the "working age" demographic. That demographic is age 25-54, those out of school, yet but not retired. And yet when we look at the governments own statistics we find that we are at the lowest level of employment in 30 years and even lower than the so called great recession of 2008. If the "recovery" continues at the current rate, we can all look forward to increased competition for scarce jobs and the lower wages that goes with that supply / demand divergence.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Where? Look on the charts linked below.
When you see new developments of 100 homes, many new construction cranes building highrise apartments and office buildings, homes selling above asking price with multiple offers within a week, and new cars flying off the lots it does appear to be a recovery. Back about 2008-9 I had 8-10 friends or relatives out of work, 3 of which lost their homes, but now with good jobs.
This is in both the Seattle area, and in the San Francisco Bay area.
Compare cities and states and you will find a great variation in the unemployment rate from 2.6 in North Dakota to 8.7 in Rhode Island. There are 20 states below 6%, 12 below 5%, only 4 over 8%. Plenty of improvement and continuing so far in 2014. of course that doesn't help the people still in that 2.6-8.7 that have no job, but there has never been 100% employment and I can't imagine that there ever will be.
The employment participation rate is the true indicator of the economy. Everything else is hogwash.
The participation rate is going to be higher now than ever because of the boomers leaving the workforce. It doesn't account for all of the drop but certainly some of it
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Data are your friends
