On Mar 26, 2010, at 9:35 AM, Jim Devine wrote: > from SLATE: >> Jobless Recoveries Are Here To Stay > >> At the Atlantic, Derek Thompson pores over the findings of a new >> (and very depressing) jobs report whose title asks, "Are Jobless >> Recoveries the New Norm?" Short answer: It's looking like it. >> According to Thompson, the report's biggest takeaway is that we're >> "no longer [in] a firing crisis. It's a hiring crisis." Despite GDP >> growth, job openings are still at record lows, Thompson says, and >> it's probably not going to improve soon. Even when demand does >> start to pick up again and businesses do consider expanding, >> they're more likely to give current employees more hours rather >> than take on new people entirely. At the moment, the average >> workweek is 33.1 hours—a hair above the all-time low of 33 hours. >> Finally, Thompson says, the unemployment rate doesn't distinguish >> how long people have been out of a job, meaning that it doesn't >> take into account whether somebody has been unemployed for more >> than 27 weeks—which half of people currently looking for work have >> been. This is the biggest change from previous recessions, which >> saw firing play a bigger role than lack of hiring. "During the past >> three recessions," the Cleveland Fed report says, "the decline in >> the job finding rate has been playing a bigger role in unemployment >> rate fluctuations. Relative to the change in separations, the job >> finding rate changed (declined) much more in the last three >> episodes." > >> Read original story in The Atlantic >> [http://www.theatlantic.com/business/archive/2010/03/the-mother-of-all-jobless-recoveries/38004/ >> >> ] | Thursday, March 25, 2010 <
Reported long ago in LBO. Subscribe today, instead of waiting for Slate to catch up. Doug Henwood Left Business Observer 242 Greene Ave - #1C Brooklyn, NY 11238-1398 USA <[email protected]> <http://www.leftbusinessobserver.com> "blog": <http://doughenwood.wordpress.com/> voice +1-347-599-2211 cell +1-917-865-2813 producer, Behind the News Thursdays, 5-6 PM, WBAI, New York 99.5 FM Saturdays, 10-11 AM, KPFA, Berkeley 94.1 FM <http://www.leftbusinessobserver.com/Radio.html> podcast: <http://shout.lbo-talk.org/lbo/radio-feed.php> iTunes: <http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=73801817 > or <http://tinyurl.com/3bsaqb> ------------------------------------------------------- download my book Wall Street (for free!) at <http://www.wallstreetthebook.com> _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
