Looking behind US (un)employment rate

US centric: I recently read an excellent article on unemployment and supposed full employment, but decided to clarify and visualize the situation a bit for myself by employing different periods than supposed periods of “full employment” and just see, how the employment situation has changed during the last 4 recoveries. Over the 35 year period (1981-2016) the population pyramid has changed quite a bit with life expectancy at birth increasing about 4.5 years while, at the same time, people 65 years and older have been participating in the workforce in significantly larger numbers, but the latter data only goes back to 2008. So, to eliminate the effects of a top-heavier population pyramid and incomplete data on the change in employment population numbers regarding senior citizens, I decided to go with employment population ratio (ages 25-54) (EPR) peaks that preceded the recessions, as defined by the National Bureau of Economic Research (NBER). The present cycle’s termination point is in march 2016, which has shown the highest reading of 78.0, after the last recession.

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