The Real Reason the Employment Picture Won't Get Better

The chart above show that while real GDP has made a complete recovery and was above its pre-recession level for the first time in Q3 2011 (see blue line), employment is still 6.6 million jobs below the pre-recession peak (see red line).  In other words, we're producing more output now than ever before in U.S. history, but we're doing it with 6.6 million fewer workers than it took to produce roughly that same output in Q4 2007. 


http://mjperry.blogspot.com/2011/11/chart-of-day-record-gdp-with-66m-fewer.html