Total nonfarm payroll employment rose by 146,000 in November, and the unemployment rate edged down to 7.7 percent, the U.S. Bureau of Labor Statistics reported today…
- 25-54 employment still 3.5 percentage points below mid-2000s estimates of potential
- 25-54 employment still 6 percentage points short of maximum attained in 1999-2000
- The upward movement in the Beveridge Curve over the past two years, by contrast, says that we have only 2.5 percentage points of slack in the employment-to-population ratio.
- Which is correct is not very important right now: 2.5, 3.5, 6—there remains a large and substantial gap