Employment

 Back in 2008 and the beginning of Obama's administration the wizards of economics predicted a rapid recovery. It did not happen and for obvious reasons. Now we return to that analysis keeping it updated.

The chart below shows Participation rate of population and the stated unemployment and the unemployment if the participation rate was what it had been before 2008. Note that the participation rate has dropped and thus the lower unemployment. If we had the same participation rate we would have a 7% unemployment rate. One wonders where the participating people have gone. One suspects it has to do with handouts and off the book employment.

 

The following is a clearer description. The blip in 2020 is the pandemic. This may go down as the most colossal Government mistake ever.

The following is the population, assuming it represents a viable census take and the participation numbers. The rate of increase in participation is high.