Click to enlarge.
Seattle: A man is about to offer an exponential trend line for a routine chart. Suddenly he pauses. He doesn't know why, but he's got to walk away. An hour later the trend goes down in flames. It's dismissed as chance.
Source Data:
St. Louis Fed: Custom Chart
Average annual age 18-60 population growth (parentheticals are with 1M/yr immigrant rate since 1960)
ReplyDelete1970s: +1.0% (+1.6%)
1980s: +0.6% (+1.1%)
1990s: +0.6% (+1.0%)
2000s: +0.5% (+0.9%)
2010s: ~0.0% (+0.4%)
2020s: +0.1% (+0.5%)
Troy,
ReplyDeleteIf today is officially Cheer Me Up Thursday and our economic prosperity is dependent on exponential growth, then you are getting off to an awful start, lol. Sigh.
Is there any US industry today wanting for more workers?
ReplyDeleteI guess ND is doing pretty good now -- 3% UE and ~20,000 new mining jobs
incomes are up, but what the Land Giveth, the Land Taketh Awayeth.
US industry does not want more workers. It wants current workers to do alot more for alot less.
ReplyDeleteSo far, so good...
Troy,
ReplyDeleteIs there any US industry today wanting for more workers?
The Soylent Green industry? I can't believe I went there.
Fritz_O,
ReplyDeleteThe end game is one highly compensated CEO with a billion intelligent robots.
It's theoretical of course. In practice things might have some unintended consequences.