[lbo-talk] jobs

[Nathan Newman]

----- Original Message ----- 
From: "Doug Henwood" <dhenwood at panix.com>
>Official date of trough was Nov 01. Jobs didn't turn positive
>for nearly two years, and seriosuly positive for more. That's roughly
>twice as long as the jobless recovery of the early 90s. The bubble
>that burst in the early 00s was also twice as big (figuratively
>speaking) as the one that burst in the early 90s.

Yet the total "aggregate weekly hours of production or nonsupervisory
workers" is still below the 2002 level:
http://stats.bls.gov/news.release/empsit.t18.htm

The St. Louis Federal Reserve graphically tracks this number pretty well.
You can see it at the link below, which shows that the real trough in total
labor demand was in 2003:
http://research.stlouisfed.org/fred2/series/AWHI/11/10yrs

Work seems to be being spread around a bit more, but the total labor needed
still seems to have increased only modestly, and nowhere near older levels.

Nathan Newman