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. . . "
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