Sucks being unemployed right now

unemployed sign

“Generally speaking, all the data seem to suggest that if you already have a job, the labor market probably doesn’t seem so bad, but if you’re looking for a job, there’s been almost no job market improvement over the last few years,” Michael Feroli of JPMorgan Chase wrote in a note to clients. [NYT]

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One thought on “Sucks being unemployed right now

  1. The comments to that NY Time piece are worth reading. The situation is probably worse than what the newspapers report because our nation has not only lost jobs, it has also completely failed to keep pace with population growth. We need about 125,000-150,000 net new jobs every month just to keep pace with the growing ranks of people who are of working age. Consequently, if you look at graphs of the percentage of working aged people who are employed the number decreases steadily over time.

    Paul Craig Roberts wrote a good piece explaining why he thinks the alleged 192,000 new jobs for February is just a mirage:

    http://www.vdare.com/roberts/110305_jobs.htm

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