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Friday, February 07, 2014

CHART OF THE DAY: The Stunning Rise Of Disability, Food Stamp And Welfare Benefits

In the wake of the financial crisis and great recession, the U.S. unemployment rate has tumbled precipitously from 10.0% to 6.7% in just four years.

"Only three other times in the past six decades has the unemployment rate fallen this far this fast: in the early 1950s, when growth averaged 6.7% per annum; in the late 1970s when GDP growth averaged 4.8%, and in the mid-1980s when growth averaged 5.2%," said Gluskin Sheff's David Rosenberg to the U.S. Senate Budget Committee.

"Today we accomplished this feat with only 2.4% growth which is disturbing because it means that it is not taking much in the way of incremental economic activity to drain valuable resources out of the labor market."



Anonymous said...

I guess that answers where those that fell off unemployment and out of the labor pool went to.

Anonymous said...

Hey dudes, its for a good cause!


Surfer Dude, featured on TV hanging on the beach and buying expensive seafood with Supplement Nutrition Assistance Program (SNAP) card. Hey now I even have insurance thanks to the Prez.

Anonymous said...

Speaks volumes