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Slow Job Growth – Get Used To It

Slow Job Growth – Get Used To It
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There is a new paradigm for developed market growth, and it is grounded in changing demographics. Currently, there is a pervasive misconception among mainstream media that the US economy needs to be growing at a real rate of 3% to be healthy. There is also a belief that 150,000 additional jobs per month demarcates weak and robust non-farm payroll growth – a Maginot Line defending the U.S. economy from economic contraction. These statistics are the relic of a past economy, one whose working age population was growing at almost 1.5% per year.

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