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Monday, December 5, 2016

What is optimal employment in the US?

With monthly reports about job creation and employment statistics that span political administrations, the data presents a consistent picture of the circumstances. However, many citizens and some experts believe that the data may not adequately describe and explain the quality of life in America by these measures alone.

The years beginning at the end of the George W. Bush administration and continuing during the first term of the Obama administration portray economic disaster and a slow recovery. The second term of the Obama administration has employment and the economy on a better track. However, is it the right path, and to where is it headed?

President-elect Trump won the election because he wants to "Make America Great Again," and that means that he doesn't believe that the present course is acceptable. Critics of the Bureau of Labor Statistics reports believing that many people have given up looking for work and are otherwise not counted in the potential labor pool.

Having a precise understanding of the situation is imperative to producing a sustainable economy from optimizing return on national resources. If we can't agree on simple things such as the number of people employed and unemployed, that is a nonstarter.

The US Nation is confronting a pivotal time in history in which leaders need to have an accurate understanding of the economic situation and a vision for a sustainable economy that ensures a good life for all in the absence of poverty. The questions for today's leadership is what their assessment? What is their vision? What is the way forward?

This topic deserves more discussion.

Data from the US Bureau of Labor Statistics 

1 comment:

  1. There are 95 million people who are not working, some of whom could be and should be. What is that number. I suspect 50 million people could be working if they had the right skills. About half of them could be trained and qualified. The other half need lower skilled work that has gone offshore.