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| The rate of job growth after a recession for the last five recessions. Notice how job growth after recent recessions has been shallower. From The Atlantic |
Worry about the economy is making the Consumer Confidence Index plummet, although I believe that the Gulf Oil Spill is also hurting American confidence.
Interestingly job growth after a recession has been getting more and more sluggish over the last few economic cycles. Why? Who really knows? I think that better computer tools are allowing better automation. Recessions really allow the economy to retool, and become more efficient.
This recession may be worse in that the interest-sensitive housing sector is not able to pull us out.
Rutgers has more statistics on this recession, see below.
It appears as though they said it was the end of the recession before the recession actually ended.. I mean, in that graph, the last two recessions are the only ones that continue decreasing in employment. The gov't is just trying to trick us, like we'll believe whatever they say. Maybe the people who made that graph were trying to subversively point that out without Big Brother taking notice...
ReplyDeleteI'd think that Big Brother and the Bureau of Labor Statistics would be on the same side. I think the issue you are talking about is that the recession ends when growth begins, not when we recover to where we were before.
ReplyDeleteThat is discouraging, since it will be years until this recession is just a memory.