24th June 13:09
Bush's Jobless "recovery" drones on
From The Pioneer Press, 8/10/03:
Jobless recovery lasting longer than economists expected
By KEN MORITSUGU
Knight Ridder Newspapers
Many economists predicted a jobless recovery, but few expected it to
last so long.
Twenty-one months after the official end of the recession in November
2001, the number of jobs in the United States continues to decline.
Economists call it a "growth recession," in which the economy grows so
slowly that it doesn't add jobs.
The underlying problem is that growth has remained subpar for an
unusually long time.
But economists also are focusing on two fundamental economic changes:
the increasing use of technology to produce more goods and services
with fewer workers and the movement of a greater variety of jobs
These shifts suggest that economic expansions won't generate as many
jobs as they have in the past and jobless recoveries may become the
So, folks, if ya thought the jobs were comin' back, fuggedaboutit. If
yer outa work, find sumthin' else ta do. Like, mebbe, begging.