Here is a rough transcription of the presentation for people who are hard of hearing. Apologies for the lack of grammar, I am working to improve the automated transcriptions -
you are a Saturday said the date Saturday Sojourner day and the Joker chart United States it’s still there two years from the top down to the bottom and it’s being now 2 1/2 years on the other side so for a half years down from where it started and it’s still 3 1/2% down from the employment rate that attained the start still looking absolutely horrible right that move onto Ezra Klein wonk blog from the Washington post as Ezra Klein deserves a little round of applause for being arms into syndicate or good all-round decent person that cares wants to get facts right wants to inform people and his workrate seems be fabulous and I like the way he uses, is it just seems an all-round decent guy so Ezra Klein wonk blog Washington post and three paragraphs from his article about that unemployment rate from the Joker chart that when the economy is doing well about 120,000 people enter the labour force each month that young people graduating high school women going back to work after a child etc when it’s doing poorly as it is now that falls to about 90,000 for more on that see this post the links not actually made but will forgive so in order for us to simply break even on jobs we need to add as many jobs as with added people quite obvious really in the for us to cut into unemployment we need to add more this month at 96,000 jobs we barely broke even in the sums everything up nicely which brings us to the unemployment rate which I think when down from it .32 8.1 ton if we barely broke even on jobs versus population how did the unemployment rate go down the answer is that the unemployment rate can go down for a number of reasons the best reason for it to drop is that we added more jobs than we did people but another reason is for it to drop is that a bunch of workers without jobs simply stopped looking that can happen because they give up and stop looking because they stay at home and take care of the kids because they go back to school etc etc at any rate that’s why the unemployment rate dropped this month basically an awful lot of people just stop looking and if we stop looking and taking them off the register they don’t count you as unemployed any more you’re just nobody so the has-been .2 and a few other around .2 of the nobody is now have just fallen off the register the 8.3 going down to 8.1 looking in behind on the on the figures basically would people that have given up looking so back to calculated risk Obviously produced the Joker chart unemployed for over 26 weeks chart going back to 1969 the amount of people quantity of people unemployed for over 26 weeks obviously as the employment as the population increases we do expect all these numbers to grow as well but they have grown but obviously we can see that this great recession is out of all proportion to all the others it’s not a population growth think it’s something else and it’s just because it is a great recession that is still going on for many many people still in the United States so that unemployed for over 26 weeks and will finish with this one because you’re having a government arm on the presidential election coming up sure you’ve noticed all those people on the television lying to state and local government payroll employment and this goes back to the end of abortion administration and all through the Obama administration with the great recession in grey painted up through the middle there and as you can see and that is payroll employment in thousands so those are millions of people 19 point 6,000,019.8 million etc and all through the Obama administration state and local government payroll employment has been going down and that is it by
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