"The notion that this is a short and shallow recession is patently false"

[Frodo]

Full quote: "Employment may lag, but it normally doesn't lag like this. The notion that this is a short and shallow recession is patently false from the perspective of the labor market."


http://www.smartmoney.com/theproshop/index.cfm?story=20040114


A very interesting read.

[xray s]

1. Personal observatons

I have three freinds in the IT field. All three believe they will be out of work soon.

The company I peviously worked for continue to lay off people (six more last week)

A large grocery chain in the Chicago area is closing 12 stores, 600 laid off.

[Bluto]

2. Short and Shallow

Where's the beef? No jobs means no recovery the way I see it.

[Frodo]

3. We have to be careful on that.

Yes, people who are out of work or fear it soon are likely to look at unemployment issues as a big deal come November.

The problem is that for the majority of people (the VAST majority) who DO have jobs, the economy is tied to their own financial state. Obviously for the middle-class and up that means investment return. A couple good years for the 401(k) and the economy doesn't look so bad.

If everything looks good EXCEPT unemployment it will be a tough year for us.

[revcarol]

4. Funny or not so funny comment:

exchanging 1 million manufacturing jobs for 1 million WalMart jobs is not an even trade.

Article does NOT address that highly educated IT jobs are lost. He blames most of the loss on low education.

And I HIGHLY disagree that most people are making disability claims just for money.The fact is that the disabled are just now getting back some of the ground they lost under Reagan, who succeeded in cutting really disabled people out of benefits and applications.