Quote:
Originally posted by bilmore
And you have it, of course.
(My main point is the one Club articulated - that unemployment right now is at a fairly "normal" level. Granted, any unemployment sucks, but we're never going to hit 0%, and the level we're at now isn't bad when you look at history. To call this an unemployment crisis is overblown hype.)
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OK. I just think it's less overblown when you look at the raw job creation numbers and realize that it's far from normal to have this little job creation at this point in a recovery. In fact, it's unprecedented. And that is not just a problem for those folks in the unemployment line; it's creating a lot of uncertainty in the bond markets, reducing state and local government revenues, and causing a number of other problems that don't seem to get reported all that much but are still there.
I'm not anxious to rekindle the "how is the unemployment rate staying the same if we aren't creating jobs" debates of yore, though, so I'll leave it at that.
