While any positive economic news is welcome, many in Washington and elsewhere are way too optimistic about a recovery. Until consumer spending and job growth turn positive, things are going to be painful.
Regarding consumer spending, Baseline Scenario critiques a post in the LA Times discussing a new Bank of America Merrill Lynch report “The Myth [...]
Continue reading about Can we have a recovery without consumer spending and job growth?
“In July, the number of unemployed persons was 14.5 million,” according to the Bureau of Labor Statistics. Another quarter million jobs were lost; however, as Chart 2 indicates below, the month-to-month decline is about half the job loss rate six months ago.
The bad news in the BLS report for July is on page 2:
The number [...]
Continue reading about Long-term unemployment rises as total unemployment slows
In my previous post, I reviewed the past five recessions to provide one backdrop for business strategy. In this post, I’ll discuss jobs and household income: two of the underlying issues that make our current crisis unlike past recessions.
We’re still in the storm, but we can already see some of the likely contours of the [...]
Continue reading about Gauging economic climate change, Pt. 2: Jobs and income
