4 percent employment growth in 2000-2007. And yet unemployment was low until the financial panic. What does that mean? Fewer job losses? Growth of the labor force is about 1 percent.
There's a scene in Ron Suskind's book where Obama is talking to Summers and Romer and mentions structural problems regarding jobs growth. Summers and Romer tell him no that the job losses are cyclical. Maybe Obama was referring to this.
No comments:
Post a Comment