Amount of job creation needed to keep up with grown in the labor force, e.g. new immiigrants and graduates.
From The Washington Post:
The Friday report revived the possibility of a jobless recovery. The pace of job creation in May excluding the census [private employers added only 41,000 jobs last month -- less than one fifth as many as in April] was so slow it was even below the amount needed to keep up with growth in the labor force -- for instance new immigrants and graduates -- meaning the unemployment rate would never come down.
The Friday report revived the possibility of a jobless recovery. The pace of job creation in May excluding the census [private employers added only 41,000 jobs last month -- less than one fifth as many as in April] was so slow it was even below the amount needed to keep up with growth in the labor force -- for instance new immigrants and graduates -- meaning the unemployment rate would never come down.
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