The Employment Picture Remains Murky and Hard to Parse

Facts matter: Sign up for the free Mother Jones Daily newsletter. Support our nonprofit reporting. Subscribe to our print magazine.

Paul Krugman says that although the employment picture is looking up, it still has a ways to go. To illustrate this, he displays a chart showing the employment-population ratio for prime age workers age 25-54:

I agree that this is a telling statistic. It really does indicate that we haven’t made up much of the ground we’ve lost since 2007, so I don’t have any argument with Krugman using it. At the same time, you get a different picture if you pull back and disaggregate the data a bit. Here’s another view:

I don’t want to make too much of this, especially since I’m not sure exactly what we should make of it. But the employment-population ratio among men has been declining steadily for over half a century, and right now we’re only a point or two below the trendline for men. Conversely, participation among women plateaued starting in the mid-90s, which suggests that we’re still a good four points or so below the trendline for women.

Maybe. The question is what the long-term trend really is. I’m not sure what to say about that, but it’s been niggling at me for a very long time. Basically, I just want to caution everyone not to treat 2007 as a magic year. There’s no question that employment is still in the doldrums, but the question of where the employment-population ratio “should” be is not easy to pinpoint.

THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

payment methods

THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate