The New York Times called it a "fraught topic." Others are calling it a "jobless recovery" and a "joyless recovery." As the sobering October jobless numbers show, the suspicion grows that employers aren't hiring in sufficient number to signal a robust, which is to say more traditional, recovery because they have found that theycan make their nut with less.
And so 10.2 million Americans are officially listed as unemployed with another 7 million or so off the books because they have given up looking for work or are working part time but not by choice. And the long-term unemployment rate -- the share of the unemployed population out of work for more than six months -- also continues to set records. It is now an astonishing 35.6 percent.
Only another healthy shot of government stimulus money -- exactly what the Party of No so vociferously opposes -- could begin to turn things around. So do it, already.
Tuesday, November 10, 2009
Quick Hits II: A Recovery Not For You
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