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Discussion: (4 comments)

  1. And that remains true even if you adjust the trend level and the trend growth rate down!
    http://thefaintofheart.wordpress.com/2013/06/07/sameness/

  2. Nickolaus

    Well of course a short 10 year trend must be true always and forever!

    What nonsense that there is some “correct” number of jobs for us to be below. The major gap here is the butt that this was pulled out of.

    1. the correct jobless rate is only reached when everyone who wants to work is working..

      1. Nickolaus

        Well that can’t be right. What if there are some people that want to work, but they insist on working in not-yet-burgeoning field space piracy? Or if they want to be computer engineers but majored in 1700s English literature?

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