Saturday, June 16, 2012

The United States is not creating enough jobs to keep up with population growth

With his new policy on illegal immigrants in place, Obama will introduce hundreds of thousands of suddenly-eligible workers into an economy with an 8.2% nominal unemployment rate, a 14.8% U-6 un/underemployed rate, with a civilian participation rate that has plummeted from 65.7% at the start of the Obama "recovery" in June 2009 (the same as it was when he took office, too) to 63.8%, lower than it was when Reagan faced his first midterm election. Those who are already struggling to find jobs are not only going to face more competition for those slots, the glut of labor will depress entry-level wages even further.

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