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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: jimmg who wrote (71795)2/10/2007 12:29:56 AM
From: Lizzie TudorRead Replies (3) of 306849
 
I can't believe this conversation is happening.

The USA has not created the standard 150K jobs/month that we need to keep up with population growth in YEARS. There has been a huge "ratcheting down" of expectations with regard to the labor market since 2001 which was the peak, not just in jobs growth but in wages. This is COMMON KNOWLEDGE.

Truth be told, if we really looked at population growth today we would probably need more like 160K-170K jobs per month to maintain. The white collar labor market, especially, has deteriorated. And this is hardly a boom, in the 90s we created 350K jobs/month in the USA- CONSISTENTLY. We are less than half of where we were in the 90s, a pathetic showing in this decade.

Wage growth slows for most workers between 2000 and 2005
One of the most important problems in the current economy is that, despite strong growth in labor productivity, hourly wages for most workers are not keeping pace with inflation. The source of the problem: a one-two punch of slower nominal wage growth for middle- and low-wage workers and faster inflation.
epi.org

Since August 2003, more than 7.4 million jobs have been created - more jobs than the European Union and Japan combined.
whitehouse.gov

WOW! More than Europe and Japan. Well thats really impressive- NOT! And the white house pick and chose this figure- since Aug 2003- to paint a picture like the USA is the jobs creating engine that it was, which of course it isnt.
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