Friday, May 16, 2008
That would be the demand side. The supply side is also interesting. From the STrib article:
In the past 12 months, Minnesota has added 19,000 jobs -- or an average of about 1,580 every month, noted Oriane Casale, DEED assistant director of labor market information. "We'd need to add about 2,539 jobs per month to keep up with population growth," she said. "However, there is evidence that [Minnesota's] population is growing slower that the demographer's office projected."The unemployment rate has held almost constant over the last year, with 24,000 more workers in the labor force. So are we just not adding more workers to the labor force, or are there workers out there waiting to be employed? There have been fairly small fluctuations in the employment-population ratio. I'm still good with my call of a short and shallow recession.