Employment growth when divided by Population growth, to create a percentage statistic, is a meager 19.57%. This means that there has only been one job created for every five persons (16 and older) entering the workforce since Dec. 31, 1999.
How can we bring in over one million legal immigrants per year, if we can't create enough jobs to employ our own children? If this isn't a depression, the government seems hell-bent to create one.
The reason we Teaparty is because our Representatives appear to represent citizens of other countries and Global Corporate Citizens.
1950's
Population Growth = 11,516,000
Employment Growth = 7,215,000 (62.65%)
1960's
Population Growth = 19,449,000
Employment Growth = 13,862,000 (71.27%)
1970's
Population Growth = 30,811,000 (Depression in Mexico)
Employment Growth = 21,224,000 (68.88%)
1980's
Population Growth = 20,865,000
Employment Growth = 17,685,000 (84.76%)
1990's
Population Growth = 21,667,000
Employment Growth = 16,998,000 (78.45%)
2000's (Mar. 2009)
Population Growth = 26,254,000
Employment Growth = 5,137,000 (19.57%)
Avg for previous 1950'- 1990's = (73.20%)
Avg. employment growth for 2000's should/would have been: = 19,218,994Employment Shortfall 2000-2009 (March) = 14,081,994
From David Ricardo. On Wages
The market price of labour is the price which is really paid for it, from the natural operation of the proportion of the supply to the demand; labour is dear when it is scarce, and cheap when it is plentiful. However much the market price of labour may deviate from its natural price, it has, like commodities, a tendency to conform to it.
It is when the market price of labour exceeds its natural price, that the condition of the labourer is flourishing and happy, that he has it in his power to command a greater proportion of the necessaries and enjoyments of life, and therefore to rear a healthy and numerous family. When, however, by the encouragement which high wages give to the increase of population, the number of labourers is increased, wages again fall to their natural price, and indeed from a reaction sometimes fall below it.
When the market price of labour is below its natural price, the condition of the labourers is most wretched: then poverty deprives them of those comforts which custom renders absolute necessaries. It is only after their privations have reduced their number, or the demand for labour has increased, that the market price of labour will rise to its natural price, and that the labourer will have the moderate comforts which the natural rate of wages will afford.
http://www.fordham.edu/halsall/mod/ricardo-wages.html
Source Data:
BLS CPS Downloaded on 4/20/2009
http://www.bls.gov/data/
Formula: Each decade represents EOY Dec XXX9 to EOY Dec XXX9
Example: Decade of 1950's = Dec 1949 to Dec. 1959.
Series Id: LNU00000000
Not Seasonally Adjusted
Series title: (Unadj) Population Level
Labor force status: Civilian noninstitutional population
Age: 16 years and over
Series Id: LNU02000000
Not Seasonally Adjusted
Series title: (Unadj) Employment Level
Labor force status: Employed
Age: 16 years and over
