we haven t recovered. part-time employment, wanls, different things that play into it. just because people are employed, it doesn t mean the same way they were in years past. a lot of underemployment, people who could be doing something much more lucrative are not. i think it s a big, big problem, a big area. you alluded, mika, to the wage problem which i think is at least as big a problem. real wanls haven t gone up for five years, meaning adjusted for inflation. even the people who have jobs, people who are fully employed, their purchasing power hasn t gone up in five years. when you want to talk about why is the country unhappy, why is it discouraged, why is it depressed on the high end are wages going up? they are going up. gretchen, that monthly jobs number has become a political issue. absolutely. when the number comes out, one says we ve added 288,000 jobs. the other side look at the
it is 200 pages of solutions in that book. but i want to mention a couple of important stats. for the first time of history in the america, more businesses are failing than starting. 70% more americans are collecting entitlements than working in the private sector. only 31% of americans are working full time. are you aware last month when the media touted the figure there is 288,000 new jobs, are you aware the way they came to that figure was we lost 525,000 good, middle-class full-time jobs and gained 800,000 part-time jobs. will you bring that energy to the book? the murder of the middle class. i ve got a middle-class contract with america that will save this economy and save the middle class. it is all in the book. coming up on the show, an outraged woman demanding answers from the president. her brother killed by
the fifth month in a row the number has been over 200,000. that news sent the unemployment rate down to 6.1%, a 6-year low. the jobs report had come out during the preelection days of 2012 saying there had been 288,000 jobs added, or if it hadn t been lost in last weekend s holiday rush, it would have been a major part of the news cycle. it was the 52nd week of consecutive job growth. that huge set of dips on the left there is the great recession. red for the end of the bush era and blue for the obama presidency which as the facts suggest first dug the economy out of a deep hole then added jobs, yes, sometimes sporadically. now there s evidence of consistency and strong growth. over the past year, employers have added nearly 2.5 million jobs. the most in a one-year period in eight years. so, why haven t we heard more about this, and also what is next? joining me now, dean baker, co-director of the center for economics and policy research. co-author of getting back to full employme
average duration of a post-war expansion, it s about 5 1/2 years. we re getting near the point in the business cycle where you might naturally expect a recession. the same time, we re seeing very strong numbers and because we re coming out of a hole so deep, there s so hope that we could actually see things really, really take off. well, i m not in the takeoff school, but i m also not in the recession school. huh. people say this are just being sloppy. recessions are either brought about by the fed raising interest rates to quell inflation. they would be nuts to do that. janet yellen is the not nuts. we won t see that. the other way we get recessions is you get a bubble that bursts. we don t have a bubble. you know, chris, i saw the last one you re not shy about pointing out bubbles. yeah. i m not going to miss one. so i don t think we re going to see recession, but i m also not confident we re going to see the robust growth, sustained, you know, 288,000 jobs we saw last mo
the same time, we re seeing very strong numbers and because we re coming out of a hole so deep, there s some hope that we could actually see things really, really take off. well, i m not in the takeoff school, but i m also not in the recession school. huh. people say this are just being sloppy. recessions are either brought about by the fed raising interest rates to quell inflation. they would be nuts to do that. janet yellen is the not nuts. we won t see that. the other way we get recessions is you get a bubble that bursts. we don t have a bubble. you know, chris, i saw the last one you re not shy about pointing out bubbles. yeah. i m not going to miss one. so i don t think we re going to see recession, but i m also not confident we re going to see the robust growth, sustained, you know, 288,000 jobs we saw last month. i m afraid i don t think that will happen. i hope you re wrong, dean baker. i hope so, too. take care. you, too. all right. prosecutor hellbent on