The United States is supposed to be enjoying a recovery. Indeed, we’re now supposedly in the fifth year of an expanding economy.
Many Americans must wonder why it doesn’t feel that way.
In part, that’s because growth has been very anemic. Indeed, this is the weakest recovery since the Great Depression.
But it’s also because the labor market has been very weak.
Most observers correctly note that there are far fewer jobs than Obama promised if the so-called stimulus was enacted.
Simply stated, our economy’s ability to generate prosperity is a function of the quantity and quality of labor and capital that are being utilized.
So it’s very bad news when millions of workers drop out of the labor force.
So how can we rejuvenate job creation?