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Cyclical Employment Trends

 

“Job markets now appear to be firmly on a sustainable path to long over-due recovery”

Cyclical employment trends

Notwithstanding the previous section, job markets now appear to be firmly on a sustainable path to long over-due recovery.

Exhibit 5-5: Unemployment rates trending down across the board

HOUSEHOLD DATA SEASONALLY ADJUSTED QUARTERLY AVERAGES - Employment Status Unemployment rates by age, sex, and marital status, seasonally adjusted [Percent]


Exhibit 5-6: There are now fewer unemployed people in the labor market

HOUSEHOLD DATA SEASONALLY ADJUSTED QUARTERLY AVERAGES - Employment Status Unemployed persons by age, sex, and marital status, seasonally adjusted [In thousands]

 

Exhibit 5-7: The better educated are finally finding work in meaningful numbers

HOUSEHOLD DATA SEASONALLY ADJUSTED QUARTERLY AVERAGES - Employment Status Employment status of the civilian noninstitutional population 25 years and over by educational attainment, seasonally adjusted

Comments

Labor market indicators are likely being helped by the fact that 1 to 3 percent of the working age population appears to have withdrawn from the job market (movements in unemployment rates versus participation rates versus employment-population ratios). The less-educated and youths have given up on finding jobs, hopefully temporarily. The better educated who had withdrawn from the labor market are now coming back and finding jobs.

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