Tuesday, February 15, 2005

When they say "the economy" they don't mean your economy 

The economists are at it again:

The U.S. economy grew at a brisk 4.4% clip last year, but it was not until last month that the number of jobs recovered to the levels of early 2001. The Labor Department pegs the unemployment rate at 5.2%, the lowest in four years, but the share of people who have stopped hunting for work is the largest it has been since 1988. Today's job growth is more than twice as slow as it was after the 1990-91 recession, and slower than during any recovery since World War II, analysts say.

The discrepancy is fueling a growing debate about whether such low employment growth is a harbinger of a world in which businesses can rake in increasing profits without much of it trickling down to workers.
(via LA Times)

So, does it really matter to me if "the economy" is doing well, when I can't find a job? "The economy" doesn't pay my rent!

corrente SBL - New Location
~ Since April 2010 ~

~ Since 2003 ~

The Washington Chestnut
~ current ~

Subscribe to
Posts [Atom]


copyright 2003-2010

    This page is powered by Blogger. Isn't yours?