The following story from CNBC.com will serve as a good prelude to a series of posts I will write on joblessness and hiring. It discusses the widely-held (among economists) view that we are entering a “jobless recovery.” :
http://www.cnbc.com/id/32104155
It is important to note the commonality of the concept in economists’ forecasts.
As I mentioned on June 9, I believe the term “jobless recovery” is a euphemism.
SPX at 976.25 as this post is written
It seems as if more and more economic forecasters believe that the economy will progressively get better by year-end, but that employment will lag considerably. Often the “jobless recovery” theme is either overtly mentioned or at least hinted.
Can such a “jobless recovery” exist, given the current level of indebtedness at the personal, municipal, state and national levels?
I have never been fond of the concept of “jobless recovery” as I think it is a euphemism.
SPX at 944 as this post is written