Thursday, July 8, 2010

Jobless Recovery

If you have been watching, reading, or listening to the news lately you've probably heard the term "jobless recovery." On the one hand, I can understand how some economic indicators are improving, thus the recovery. On the other hand, with unemployment at 10% and rising (consider how many people have just stopped looking for jobs) it's hard to call it recovery. Sometimes it's easy to just take these terms at face value, but I liked the way Cory Doctorow questioned it and summed the problem up perfectly:
If the thing you use to measure the health of your economy has gone up, but no one has a job, then surely you are measuring the wrong thing to gauge the health of your nation.

Go here to read the full article.

2 comments:

Becca said...

I think its too soon to call it a jobless recovery. Employment usually lags economic recovery. But still, the unemployment rate is scary. As are the ratio of CEO to employee salaries and the rate of corporate investment in finances instead of new business.

Jennifer @ New Shade of Green said...

Yeah... I stopped looking for a while. But aerospace jobs up here are starting to pop up again which is a great thing. Or sad, depending on the day and viewpoint :).