That we’re in recovery, but its a jobless recovery. No, I’m not kidding. No less a slavish-to-Obama outfit that Newsweek has made this discovery:
Still, Achuthan warns that one of the most important indicators—employment—isn’t showing recovery yet. The reason: The combination of deleveraging and the long-term decline of manufacturing is hindering job creation and destroying existing jobs. After the last recession ended in 2001, the service sector created jobs, but payroll employment continued to fall through 2003 because millions of jobs were lost in the manufacturing sector during the expansion. “We may see some echo of that in this recovery.” But while employment is vital, payroll jobs growth alone doesn’t make the difference between recession and expansion…
…The recession is over! Let the jobless recovery begin!
Can you believe this nonsense? I mean, if we GOPers had tried this back in 2003, we’d have been hammered mercilessly…by Newsweek, for instance. Ah, well – they’ve got their man Obama, and they are determined to sustain him. If this means they have to be monumentally stupid, then so be it, as far as they are concerned.
As an aside, the talk of recovery – jobless or otherwise – is just plain and simple stupid. Wishful thinking from financiers who know that one more hit and they’re done for combined with, well, lies from liberals hoping to fool people in to thinking that they shouldn’t toss Democrats out at election time next year.
11% unemployment by Christmas, 15% by the middle of next year; that’s my guess.
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