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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (37010)	8/5/2005 10:34:41 AM
From: CalculatedRisk	Read Replies (1) \| Respond to of 306849

The participation rate is very low for this point in the recovery. The previous slow recovery, after the '91 recession, saw the participation rate at 66.7%. It is currently at just 66.1%. And yes, each 0.1% matters ... that is 150,000 people! Yes, this is properly characterized by very low. Dismissing it because its "within 1% of its yearly all time high" is incorrect. The all time high is 67.3%, and the yearly high is 66.2% (SA). I'm not sure what you meant, but a 1% change in the participation rate is 1.5 million people. Some people dismiss global warming since the earth's temperature has risen less than 1 degree in the last 100 years. But that is HUGE and so is a 1% change in employment participation. Here is an excellent write-up by Dr. DeLong: How Many People Should Be Working in America? delong.typepad.com