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If we are adding more jobs, why are the numbers of people leaving the workforce at record highs? Before anyone says that Breitbart is a partisan site, there is a link to the Bureau of Labor Statistics press release in the article.
Construction employers added 48,000 jobs in December and 290,000 for the year—the largest annual increase since 2005—as the sector's unemployment rate fell to 8.3 percent, according to an analysis by the Associated General Contractors of America (AGC). AGC officials said many firms are expanding payrolls to keep pace with growing construction demand, but are having a hard time finding qualified workers to fill key positions.
Location: New Albany, Indiana (Greater Louisville)
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The economy has improved a lot but it's still worse than in past decades. We haven't seen a great economy since the 1990s. 40% of working age Americans don't work, some choose not to others try but can't find work. That's a big problem.
More than 2.95 million jobs were created last year, according to the latest figures from the Department of Labor.
It's encouraging news as the U.S. tries to put the Great Recession and sluggish recovery solidly behind it. Many economists expect 2015 to be equally as strong, if not better, for job seekers.
The unemployment rate fell to 5.6%in December, down from 5.8% in November. That's also a big drop from the 6.7% rate in December 2013. It's expected to hit 5.2% -- around the normal level -- by the end of the year, according to CNNMoney's survey of economists.
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Originally Posted by Finn_Jarber
What percentages? We added 3 millions jobs making it the best year since 1999. It means we have not added that many in 15 years.
It's not the only way to go. In 2008 it went the exact opposite direction at a pace of over 600 000 jobs lost per month.
How short are people's memories?
Apparently longer than yours. CNN is wrong as usual.
For those seeking Truth....
Top 10 Years of Net Job Gains Since 1980
The economy has improved a lot but it's still worse than in past decades.
Such as?
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We haven't seen a great economy since the 1990s.
Great economy? I'm not sure what that means anymore... but I do agree that late 90s saw impressive employment numbers that we're unlikely to see again, followed by the debacle that lasted nearly a decade (which I hope we never see again).
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40% of working age Americans don't work, some choose not to others try but can't find work. That's a big problem.
One thing Yellen mentioned that is troublesome is that the past 3 recessions/recoveries have not seen wage recoveries.
Historically wage recovery comes along with the job recovery but our last 3 recessions have not seen that.
She's worried but still intends to raise interest rates.
Oh and it's not just the US that sees this new trend. The same trend is seen in Britain. They have not seen wage recovery either.
One thing Yellen mentioned that is troublesome is that the past 3 recessions/recoveries have not seen wage recoveries.
Historically wage recovery comes along with the job recovery but our last 3 recessions have not seen that.
At most, you can claim that 2014 ranks on the high end of Mediocre, otherwise there's nothing special about it.
Happily debunking....
Mircea
1984 saw unemployment hover between 7.3-8%. 1984, not 2014, is a perfect example of the economy growing like crazy because it had nowhere to go but up.
Fun fact: Reagan's America didn't see sub-5.6% unemployment until April 1988, his final year in office. At this point in his presidency it stood at 6.6%. Yeah, the economy created jobs, and the public sector thrived, but it wasn't enough to bring unemployment to healthy levels until the end of the decade. The recession Reagan and Congress had to deal with was nowhere near as calamitous as the Great Recession either.
2000, now THAT'S enviable growth. To add 3.4 million jobs to an economy that was already kicking butt is very impressive.
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