Many would claim that the "Civilian Labor Force Participation Rate" the government presents is more optimistic than had the statistics not changed. But even official statistics show a grim larger picture when you graph the rate from 1948 with a trendline. Using this chart's numbers let's define:
Employment percent |
Effect |
3 - 4 |
good |
4 - 5 |
adequate |
5 - 6 |
poor |
6 - 7 |
very poor |
7 - 8 |
torture |
8 - 9 |
crisis |
9 - 10 |
causes long term damage |
above 10 |
holding breath - unsustainable short term |
The problem is that with historic trendline support at 7; the next hiccup in our economy may put us right over 10. Then all the king's horses and all the king's men stimulus packages will be required just to get us back to crisis level in time.
Oh and what will happen if we go over 10 for more than a few months? Its anyone's guess but with 89 guns per 100 residents America is the most heavily armed country in the world. We simply cannot afford to find out.