August 2 2013

Hot Air: Five scary charts and facts about who’s working and not working in this economy

Hot Air

BY MARY KATHARINE HAM

At this point, even Ezra Klein is conceding that the “recovery” growth rate of 1.7 percent is a “horrific” new normal, so I can be accused of no partisan quest driving me to point out these depressing facts about our current economy, but a desire that we harness the good sense to abandon what’s not working and get the heck out of this mess. (Correction: This was Neil Irwin’s piece, a coblogger on Ezra Klein’s Wonkblog, who then tweeted the piece. Apologies for the mistake!)

1. Workforce participation: 2008-2013

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2. Workforce participation 2008-2013, compared with 2000-2008:

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Fed charts via @bdomenech, who writes a great morning newsletter, The Transom, which you can sign up for, here.

3. The surge of part-time employment:

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4. “[O]f the 953K jobs “created” so far in 2013, only 23%, or 222K, were full-time.”

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5. Repercussions.

Hadley Heath and Bloomberg economist Joe Brusuelas team up for this doozy:

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