Oops, Jobs Didn't Grow Enough

So 162,000 jobs were created in March, but unemployment didn’t budge, holding at 9.7%.

Here’s why.

As visualized by Econompic below, while the economy added 162,000 jobs, the average monthly U.S. population growth over the last 10 years has been 211,000. Thus the U.S. economy has to create jobs at a higher rate than its population growth, or more precisely its workforce growth, in order to see an improvement in the unemployment rate.


Just don’t think that a growing population is a bad thing the U.S. should be happy it’s not Japan for example. There’s always enough problems to be met in an economy (ie. ‘jobs’), it’s just a matter of connecting the jobless with problems they can solve.

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