Atypical Business Cycle Recovery
How atypical is the present recovery, in terms of employment rates and NILFs, when compared to prior cycles?
This much:
>
Its readily apparent from this chart that the unprecedented drop in Labor Participation rates is what's responsible for the exceedingly low unemployment rates.
Now you have yet another tool in your econo-hack™ detection kit. Anyone who gets on their hind legs to declare how wonderful the economy is based upon how low unemployment rates are outs themselves as a clueless known-nothing.
> Rant mode off <
>
Source:
Federal Reserve Bank of Cleveland
(Caveat Forecaster)
April 2005
http://www.clevelandfed.org/Research/ET2005/0405/trends.pdf
Friday, July 22, 2005 | 10:15 AM | Permalink
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Listed below are links to weblogs that reference Atypical Business Cycle Recovery :
» How many people should be working in America? from Econbrowser
Quite a few commentators have suggested that the labor force participation rate is a much better indicator of the health of the U.S. labor market than is the unemployment rate. I feel that quite a few commentators have this wrong.
[Read More]Tracked on Jul 24, 2005 4:11:49 PM
» How many people should be working in America? from Econbrowser
Quite a few commentators have suggested that the labor force participation rate is a much better indicator of the health of the U.S. labor market than is the unemployment rate. I feel that quite a few commentators have this wrong.
[Read More]Tracked on Aug 2, 2005 1:26:16 AM
» How many people should be working in America? from Econbrowser
Quite a few commentators have suggested that the labor force participation rate is a much
better indicator of the health of the U.S. labor market than is the unemployment rate. I feel
that quite a few commentators have this wrong. [Read More]
Tracked on Jan 6, 2006 6:01:48 PM
Comments
There are many other commenters that have looked at this from a longer term point of view. Perhaps you should do the same before you go off calling people names when your looking at a mere 4 years of data.
Posted by: cb | Jul 22, 2005 11:28:17 AM
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