The chart below is something you need to see to have some medium to long term perspective on the economy and the job market. It comes under the heading of something you won’t see in the mainstream media. I have finally been doing this long enough to know that people don’t always like it when I present something that’s troubling and I actually thought about not posting it. But I reminded myself that my job is to give you the best information I can that will help you run your business, even if it’s not cheery, or maybe especially then since nobody else seems anxious to do it.
The purpose of posting this is to give you some perspective on the possible duration of our current economic conditions. Remember we need something like 100,000 to 125,000 new jobs a month just to keep up with population growth. Eventually, new jobs and new industries will be created and the country will prosper if only because of its massive natural advantages. But financially caused recessions are historically always the worse, and the deleveraging process we are going through has to be measured in years.