Les Jones: Unemployment Figures Improve Again

July 12, 2005

Economics > Unemployment Figures Improve Again

Owen looks at the steadily-improving unemployment figures, which are now down to five percent. The Democrats will still paint a picture of poor economic performance, but everyone who wants a job has one at this point. LATER: in comments, Chris Wage thinks that's insensitive to people who are unemployed. I think he has a point. My point really is just that 5% unemployment is about as good as it gets.

Posted by lesjones

Comments

I think regardless of what you may think about the unemployment figures (I for one am not impressed), saying that "everyone who wants a job has one at this point" is not only disingenuous, but probably insulting to a lot of people out there who, you know.. don't have jobs.

Posted by: Chris Wage at July 12, 2005

That would be 1 in 20 people at this point. That's pretty much full employment and about as good as it ever gets. I feel for people who don't have jobs, but the unemployment rate never has been and never will be 0%.

Posted by: Les Jones at July 12, 2005

"but the unemployment rate never has been and never will be 0%."

true, but I have a sneaky feeling that full unemployment is a little lower than 5 pct. It is not really based on to much.

if we were at 4.5 pct, then I would consider that full unemployment.

Posted by: cube at July 13, 2005