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This morning we learned that the U.S. economy added 155k jobs December and the unemployment rate ticked up in 7.8 percent.

Although the numbers were in line with economists' expectations, they still reflect a job market that remains incredibly weak almost four years into the economic recovery.

Calculated Risk runs a chart every month putting the current jobs recovery into perspective.

"This shows the depth of the recent employment recession - worse than any other post-war recession - and the relatively slow recovery due to the lingering effects of the housing bust and financial crisis," writes Bill McBride of Calculated Risk.

[Image: moneygame-cotd-010413-1.jpg]
"In 4 more OMao years you won't like how America looks....I guarantee it."
“When injustice becomes law, resistance becomes duty.” -- Thomas Jefferson
Looks to me like we need a nice World War to get things back on track Shrug
Dave, proudly annoying members of since Sep 2012.
Dave;62573 Wrote:Looks to me like we need a nice World War to get things back on track Shrug

It's far worse than that graph lets on because its not counting people who have been out of the job so long and have just given up and the masses of people who took whatever job they could get and are getting paid FAR less than they should be paid (late 20 somethings and college grads who for the most part are still working high school level jobs because the economy is fucked). That is also compounded by the fact that in general the job creation rate is below the number of people entering the workforce. I think that graph is assuming the point at which we return to the point we were at in 2008 not where we SHOULD be at now in 2013.

Also wars only destroy wealth, value and jobs, they don't create it. The cost of WW2 we are still carrying to this day. When we have a war our government can't pay for it, which means they just print money to cover the debts, which means the money YOU have becomes worth-less. So it might create jobs today, but that just means that your children will be left holding the bag on down the road.
The forum poster formerly known as Emoticon...

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