08 October 2010
Jobs Situation Still Ugly
Via Calculated Risk.
Part time employment for economic reasons is at record highs, the employment to population level is hovering at the lowest level in about 27 years, and is down by about six percent of the population since its peak in 2000. The percentage of people who have been unemployed for at least six months (about 4.0% of the workforce) is still near a record high although it is finally starting to ease a little. In short, still ugly.
If the trendlines are to be believed, we are about sixteen months from returning to the pre-recession employment situation, in other words, it will take until sometime around January 2012.