Of course, the population has grown in that same time period, so the number of “new” jobs has to be compared to the number of new jobs required just to employ the new workforce.
QE isn’t sustainable, so what is the end game?
Never said QE n+1 was sustainable... But liquidity injection is the absolute right answer for deflation from a supply side perspective. Just as liquidity removal is the answer for inflation. I have said countless times on here that timing will be critical. The Fed is obviously having internal debates as to when to pare back on the asset purchases as you can tell when you read their minutes of the FOMC meetings. They have now taken the unusual step of signaling when that will happen according to sir dual mandate: 6.5% unemployment and 2.5% inflation. We aren’t anywhere near those two levels yet.
On the workforce it’s amazing how many people on here only show the participation chart over the last 5-10 years and completely ignore that participation rates have been far lower than they are now. The 40’s, 50’s, 60’s and most of the 70’s were far lower. They also completely ignor that the rate has been falling since the 1990’s. Selective presentation at best. Lying and manipulation at worst. As Moynihan said, you are entitled to your own opinion but not your own facts.