Guest Post by Mike Shedlock
Lakshman Achuthan and the ECRI posted some interesting charts about the uneven jobs recovery since 2007.
Minorities fared far better at job gains on a percentage basis than whites.
The ECRI’s charts provide yet another look at why Trump won the election.
Please consider A Tale of Two Job Markets.
Looking beneath the headlines, it is important to appreciate how unevenly distributed the job gains have been during the current business cycle. We pointed out nearly five years ago that, over the first two years of the jobs recovery, Whites accounted for less than 59% of the job gains, even though they made up over 81% of the labor force. Meanwhile, Blacks and Hispanics, who made up “about a quarter of the labor force, accounted for around five out of every eight jobs added” (USCO, February 2012).
Last month, we again emphasized the skewed nature of this jobs recovery, noting that, “for seven long years, the majority of less-educated non-Hispanic White adults has not been employed. No wonder there is such angst in the lead-up to this presidential election” (USCO Essentials, October 2016).
Continue reading “White Anger: Fed Helped Elect Trump; Tale of Two Job Markets”
