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Or… more reasons why we need a new set of criteria for defining recessions.

Witness: headline unemployment, while poor, has improved since the recession has officially ended.

But, employment per capita has actually worsened, which is the reason the Great Recession does not feel finished, no matter what the economic profession insists.

Employment to population ratioUPDATE: The above two charts show very clearly the vacuity of the pre-election spin that has been inundating the media, especially when we recall that much of the rise in the household wealth has been the result of QE-driven asset inflation.

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