Mike Lux: Jobless Non-Recovery
June 26th, 2009 | Author: admin
I hate the phrase “jobless recovery.” If people are not getting decent employment, there is no such thing as a recovery. It doesn’t matter if corporate profits go up, if the Dow Jones rebounds, if Goldman Sachs honchos got record bonuses, if the Gross National Product rises. What matters is whether regular folks are feeling any difference in their lives. And when you hear the phrase “but jobs are a lagging indicator,” let’s be clear: that’s just another way of saying trickle-down economics.
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Mike Lux: Jobless Non-Recovery
