NP - The Myth of a Jobless Recovery

[alice wellintown]

We can define and measure recovery, itz not rocket science, we simply
look at the charts and graphs and there it is;  or there it isn't.
itz so easy,  that even an economist can do it.

But not all recoveries look alike because not all recessions look
alike. The one the US is now recovering from, while not unique, is
uncommon.  It is a major financial crisis recovery.

And, it is common to have a slow, pathetic to moderate, recovery, one
that moves back to natural unemployment slowly, after such a crisis.
That's what we have.

Some call it a jobless recovery and this phrase is not accurate,
although the nitty gritty splceres of date aind indicators may make
arguements about the particulars....but it does say something about
the recovery from these kinds of financial crises, that is, they are
not easily shaken off and they do damage to employment, damage that
takes up to a decade, in the best of circumstances (ours is not the
best but relatively very good), or longer to repair. Of course, for
some workers, and groups, the dmage can not be repaired. There are a
hundred variables, some of them singular and local, but the nutz and
boltz of it are simple enough.


So, how tro avoid this next time? We can't. WE might try what the
Brits are doing, or whatever, but in America we like risk and we will
take the chances, de-regulate and find ways to make money.

The good news is that those in debt are being helped and those who
have lotz of money are bing taxed to help them. A good policy, if kept
in check,  in the long run.