Furthermore, it is an utterly meaningless benchmark economically. Because the working-age population and with it, the potential labor force is growing all the time, we should have added millions of jobs over the last six-plus years just to hold steady. That means that when we get back to the prerecession employment level, there will still be a huge gap in the labor market. We currently have a gap in the labor market of 7.1 million jobs. When the numbers are released on Friday, that gap will likely drop to 7.0 million. We are far, far from healthy labor market conditions.
Chosen excerpts by Job Market Monitor. Read the whole story at What to Watch on Jobs Day: An All-time High of an Indicator That is Almost Always Rising | Economic Policy Institute.