2007 Review — Job Markets

Unemployment Rates

Dec. 1997 – 9.9 – blacks
Dec. 2007 – 9.0 – blacks

Dec. 1997 – 7.5 – Latinos
Dec. 2007 – 6.3 – Latinos

Dec. 1997 – 3.9 – whites
Dec. 2007 – 4.4 – whites

Overall Unemployment Rates

6.4 – Dec. 1977
5.7 – Dec. 1987
4.7 – Dec. 1997
5.0 – Dec. 2007

For obvious reasons the chances the media will report those facts to the general public nearly are the same as a young liberal-bot’s chances of grasping reality: zero.point.zero.

Net Job Growth

Established employers in 2007 created the net sum total of 1,328,000 payroll jobs. Established private-sector employers added the net sum total of 1,054,000 workers to their payrolls.

Payroll employment by the federal government in 2007 declined. In fact, the federal government has reduced its total payrolls in four of the past seven years. Go figure. For obvious reasons that information won’t be reported, much less featured, on conservative talk radio.

Overall employment in 2007 increased by the net sum total of 262,000 jobs. That muted job gain includes net changes in 1099 contractor employment and in self-employment. Obviously a large number of non-payroll workers in real estate and mortgage lending quit or were jettisoned.

As for 2008, time will tell.

A Blogger Dies at War
The Knucklehead of the Day award