2014-09-06 US under the Greater Depression - no recovery at all!
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The labor force participation rate has declined from 66.5% in 2007 prior to the last downturn to 62.7% today. This decline in the participation rate is difficult to reconcile with the alleged economic recovery that began in June 2009 and supposedly continues today. Normally a recovery from recession results in a rise in the labor force participation rate.
The authors of this paper are credible financial analysts, the first author - former Assistant Secretary of the Treasury for Economic Policy under Reagan.
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The labor force participation rate has declined from 66.5% in 2007 prior to the last downturn to 62.7% today. This decline in the participation rate is difficult to reconcile with the alleged economic recovery that began in June 2009 and supposedly continues today. Normally a recovery from recession results in a rise in the labor force participation rate.
The authors of this paper are credible financial analysts, the first author - former Assistant Secretary of the Treasury for Economic Policy under Reagan.
