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A good visual here on the jobless recovery courtesy of American Century Investments:

“Looking at the longer-term picture, the chart below helps illustrate how the size of the civilian labor force, which grew from slightly less than 143 million people in January 2000 to 155 million at the end of 2007 (paralleling the growth of our country’s population) has since flatlined despite continued population growth. Total employment reached a peak of 146 million in August 2007 and has since declined by 7 million to 139 million, while unemployment has increased from what economists define as “frictional” (the regular churn of people in and out of jobs in an economy that is otherwise fully employed) of 7 million to slightly over 14 million.”

Source: American Century

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