For all the talk of corporate profits, productivity growth, and higher capital spending, we have yet to see signs of an economic recovery in the job market.
We’re now 22 months out from the technical end of the last recession. Over the past 50 years, the average growth in number of nonfarm payrolls (jobs) during a comparable period is 5.2%. The change during the current “recovery”: -0.9%.
Over the past year I’ve listened to many “experts” try to make sense of what’s going on in the economy. I’m still waiting for a good explanation.
Oh, did the recession end? Hmmmph.