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55 year employment pattern ends!

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55 year employment pattern ends!

7/5/2011 -55 year employment pattern ends in Year 2000! – Yes you read it right, a pattern of exponential growth that has prevailed at least since the end of the second world war, ended in about the year 2000. The trend that has taken over shows zero growth since 2000. I know, we’ve had two growth spurts and two recessions since 2000, including the horrible one we are in now. But these ups and downs are superimposed on the overall pattern that I am talking about. All the post-war booms and busts wiggle around the growth line but all has changed.

We rigorously mean exponential growth before 2000; we are not just using a superlative for literary emphasis. Exponential growth is evidenced as a line on a logarithmic graph which is just what you see below.

So what happened in 2000 to change employment growth so abruptly. We will be exploring that in the next few posts. We’ve shown you manufacturing labor on this same chart to give you a sense for where we are headed. The chart shows manufacturing collapsing at about the same time. But don’t fall for easy answers, our work does not find that manufacturing dragged the economy down. We’ll argue that in upcoming posts and provide evidence.

  1. This is a great visualization of what appears to be a real structural change that few are talking about. Instead, the Republicans and Democrats are debating about solutions without really understanding the problems…

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