2015-09-03 US under the Greater Depression - job re covery only for those with no high school diploma...

2015-09-03 US under the Greater Depression - job re covery only for those with no high school diploma...
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Exposing The Lie Behind The "Strong Jobs Recovery" In One Chart
Tyler Durden's pictureSubmitted by Tyler Durden on 09/02/2015
With all eyes glued to Friday's payrolls report, we thought it worth reiterating some 'facts' about US employment data. As ECRI notes, the sustained decline in the official jobless rate – now approaching the Fed’s estimate of “full employment” – is a misleading indicator of labor market slack. The data shows that the so-called jobs recovery has been spearheaded by cheap labor, with job gains going disproportionately to the least educated — and lowest-paid — workers.

Indeed, the stagnation in nominal wage growth is consistent with the weakness in the employment/population (E/P) ratio. That said, even the E/P ratio may be overstating the health of the jobs market.

After dropping to three-decade lows in the wake of the Great Recession, the E/P ratio, has barely improved since the fall of 2013, reversing only about one-fifth of its decline from its pre-recession highs. Furthermore – as a breakdown of the E/P ratio by education level shows –this modest improvement is illusory.
Figure:
https://ecri-prod.s3.amazonaws.com/…/1508-EmploymentPopulat…
Read more:
http://www.zerohedge.com/…/exposing-lie-behind-strong-jobs-…

ECRI-PROD.S3.AMAZONAWS.COM

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