Discussion in 'Wall St. News' started by hippie, Jun 6, 2010.
A very bullish chart, imo, for a student of jobless recovery.
There is no such thing as jobless recovery. Anyone who thinks otherwise is deluding themselves. Once the stimulus is finished being wasted, we will see where the recovery stands.
I seriously doubt it is possible to have sustained economic growth with ~10% of your labor force unemployed or underemployed. And that 10% of the workforce isn't going anywhere. They spend money, own homes, have savings, have children, etc just like the rest of America. For people to act like unemployed are all of a sudden sub-American citizens is a major mistake.
10% only? That is the U3 number, if you are baby-sitting 2 hrs a week, u are counter as employed. If u have given up active job search or taking a break from it, you are not counted either.
If u included all, I won't be surprised there is 30% unemployed or under-employed in many parts of the country
Yeah, I know the number is much higher in reality. That's why I used the ~ (approximately) sign.
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