radd
Full Member
- Joined
- Apr 17, 2002
- Messages
- 1,056
It will happen... or at least one major leg/foundation of the US economy will spur or at least keep the economy moving forward despite major headwinds in Europe and China -- according to some of the non-partisan economist have said that whoever gets elected will benefit from Obama's past 4 years.
Yes, but it's such a laughably back of the envelope calculus, I'm not sure how seriously to take it. As I understand it, they are basically estimating 3 jobs added for every housing unit constructed - so 1 million units a year gives you 3 million jobs, or 12 million over four.
Given that September's performance was already at the rate of 872,000 units (annualized), and a jump of 15% over August, and the annualized growth rate of the economy for the quarter was 2% according to a link posted up thread by MJS, they aren't really predicting a huge growth for the overall economy, something like 2.5% for 2013.
At that rate, full employment even for college graduates is a good few years away, never mind lower down the educational ladder. A second stimulus, as well as a jobs bill are both vital to meaningful growth.