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Subject:  Re: Not All 21st Century Recessions the Same Date:  1/19/2018  12:01 PM
Author:  jerryab2 Number:  529863 of 603067

2001 through 2008 only +2.1 net new payrolls while 2009 through 2016 +11.3 million net new payrolls.

That was a specific point I posted some years ago.

The US economy was adding about 2-million *additional* workers to the workforce *every year* 2001-2008, but the economy only added 2.1-million *additional* jobs 2001-2008. This created a massive and ongoing "surplus worker overhang" of the job market, depressing worker wages and benefits.

That began to change in 2012, when the boomer generation began to hit FRA (Full Retirement Age) and retired from the workforce, thus creating additional job openings. The boomers retired at a rate of 10k/day, but business had known of that reckoning and had prepared for it. Many businesses rearranged their workforces in order to take advantage of technology and outsourcing, thus reducing their need for direct employees. Realistically, the demand for *additional* employees has dropped about 40%-50% or so (which I predicted in those previous posts). The current demand for *additional* employees is running at about 75k to 100k/month, exactly as I predicted and posted.
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