The broadest measure of unemployment is the Civilian Employment-Population Ratio, which is exactly what it sounds like: the ratio of employed civilians to the total population. It stands right around 59%, which is the lowest its been since the early 80s.
Fortunately, the recent end of layoffs seems to have staunched the fall.
But even if the economy rebounds, don’t expect this measure to jump back to old highs.
For one thing, the recovery could very well be jobless.
But beyond that, demographics won’t be very favourable here as more and more Americans retire, placing a greater strain on those who are working.
The one way this won’t be true if is we continue to keep bringing in immigrants like we have. Let’s hope the integration of them works out well.
And don’t miss: 10 countries on the verge of a crippling demographic crisis >
Photo: St. Louis Fed
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