I brought this forward from below...
Knapper, you are right. Full employment has been considered 5% or less unemployment for a long time. Currently, the US is at 4.9%.
I know that we went through a long period, where there was not one job posted in our local paper, The Cannon Falls Beacon. From 2008, when Bush left office, through 2011, there was virtually nothing in there for job openings. This last week, there were 22 postings in our little local paper. There is a trucking company by us in Northfield, McLane, that is basically begging for truck drivers. They now offer a $7500.00 sign on bonus.
Speaking with King's Campers in Wausau, they are still swamped with work. In 2008, their business dried up to almost nothing. Now, they can't keep units in stock, and they are months out on service work.
Nearly all of the contstruction projects that had been shelved in 2008, are now completed around the are, or are back up and running. Highway 52 is extremely busy with many semis going both directions.
But still, on here, I hear the cries of "our economy is so poor." Maybe it is in your area....maybe you're just not looking. But I can tell you, here, in SE MN, it's pretty much booming again.
It took 15 years after the farm crash in the early 80's to get back to where it was. I expected the housing and the global financial crash of 2007/2008 to take about the same to recover. Thanks to lots of stimulus, it only took 8 years. There are probably anemic areas, but even in those areas, things are way better than at the end of the GW administration. And if you think they aren't, then the problem might be your own or your own small area, not the economy in general....
Tick Tock
Jen
