Jobs Versus Net Jobs

[Ruble Noon]

http://lewrockwell.com/sowell/sowell100.html

[jeanderson]

Thomas Sowell is great. He really nails it on jobs here. Economics is a complex thing, and so many try to simplify it.

When the BLS issues it's employment report every month, I download the employment situation report (http://www.bls.gov/news.release/pdf/empsit.pdf). Ignore the "unemployment rate" and look at the labor participation rate. It's alarming. This is the percentage of population that is working and it's been steadily declining. That is unsustainable.