Employment is increasing but we still have a significant amount no longer in the base. It should reflect a 7% + unemployment rate if we maintained the base as it was in 2006. Even then it had dropped from 2000.
One can see the growth in employment and population. The latter growth is the problem in a sense that we do not have the old percent in the employee pool. Thus the 4.7% is truly deceptive as we have been showing for the past eight years.
The above does reinforce this issue. The workforce as a percent of population is still well below what we started with.
We will examine the details later.
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