CJ, So that means we had about 1.1 million net new jobs between March 2001 and November 2005. That works out to be about 20,000 new jobs a month, on the average.
You're taking two different data points with nebulous bases for reference. Let's stick to the EPI link you provided:
Every month that payroll jobs grow by fewer than 137,000, the jobs gap widens. In the past six months, job growth has averaged only 61,000, with February 2004 showing a gain of just 21,000 new jobs (see JobWatch.org for a complete analysis of the February employment numbers). As a result, the jobs gap keeps widening.
That figure of 61K is well above your table napkin calculation of 20K. But even that, according to EPI, wouldn't cover the "job gap." Yet consider the latest article from EPI:
epi.org
The decline in unemployment was accompanied by increases in employment rates for some groups, particularly Hispanic workers (up one percentage point), and high-school dropouts, up 0.8 points. While monthly changes in this value can be unstable, over the past year, employment rates are up half a point over all, 0.9 points for African Americans, 1.7 points for Hispanics, and 1.3 points for high-school dropouts, a sign that the tightening job market is reaching less-advantaged workers.
You can't tell me that "employment rates" count those who are unemployed but not actively seeking work as "employed."
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