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At first glance, the phrase “jobless recovery” seems an oxymoron. How can there be more economic activity without more jobs? If more things (or services) are sold, the income must go to SOMEONE, mustn’t it? That SOMEONE must spend or save it. If s/he SPENDS on stuff and/or services, those supplying them will have jobs. If s/he SAVES it, that savings will presumably be loaned out to individuals to SPEND (again, creating jobs) or to businesses to INVEST — building factories, developing new software and suchlike. But again, jobs will be created, no?
The government’s broadest measure of unemployment stayed steady at 17 percent. This figure includes the unemployed plus all who are only marginally attached to the labor force, plus those employed part time for economic reasons. This means people who worked as little as one hour a week are included.
esterday, we posted the latest segment from Paul’s Making Sen$e series. In it, he spoke to two very distinct groups — laid-off white collar executives and ex-cons looking for work — and was struck by what he heard from both groups: that staying positive in the face of constant rejection is the key to succeeding in this extraordinarily difficult job market.