Popular Posts

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."

More

3 comments:

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

    ReplyDelete
  2. Hey dudes, its for a good cause!

    Sincerely,

    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.

    ReplyDelete

Note: Only a member of this blog may post a comment.