Apr
08

Less Work

US employment peaked in 1/08 at 138.1 million. Employment then fell to a low of 129.3 million in 2/10, a loss of 8.8 million jobs. Today 46 months after the end of the recession, employment is 135.2 million, 2.9 million below the high. Assuming an optimistic 200,000 new jobs per month, a new employment high will not be reached until 6/14, 6.5 years after the start of the Great Recession.

Note: On Friday I stated that the distillery that produces Maker’s Mark was reducing the alcoholic content of that product by 7%. After a huge outpouring from loyal constituents, the firm decanted, I mean recanted. Sorry for the stale information.

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