When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Saturday, January 7, 2012

You think the December jobs report is good news?

Some might not like his liberal politics, but Paul Krugman knows his economics--his take on today's job report:

The Soft Bigotry of Low Employment Expectations - NYTimes.com: ". . . Let me give two back-of-the-envelope ways to think about how inadequate 200,000 jobs a month is. First, note that there are still about 6 million fewer jobs than there were at the end of 2007 — and that we would normally have expected to have added around 5 million jobs over a four-year period. So we’re 11 million jobs down — and we need at least 100,000 jobs a month just to keep up with working-age population growth. Do the math, and you’ll see that it would take 9 or 10 years of growth at this rate to restore full employment. . . "


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects