Looking at today's NFP report which beat consensus by 26K jobs, it is easy to lose perspective of the big picture. Whch is as follows: in order to regain the millions of jobs lost since the start of the Depression in December 2007, and return to the same unemployment rate when factoring in the natural growth rate of the labor force of 90,000 per month (not our estimate: CBO's), the economy will need to create 245,500 jobs each and every month by the end of Obama's tentative second term in November 2016.
US Must Create 245,500 Jobs A Month To Return To December 2007 Employment Rate By End Of Obama Second Term
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