Check out the graph above via Catherine Rampell at The New York Times Economix (blog). It compares job losses in the current downturn to five previous recessions going back to the mid-1970s. The patten of job loss is far, far deeper than in any previous period and has extended for more than two years. By the looks of the chart, it appears that deep job losses may have ended and the pattern may be ticking up. Let’s hope so.
May 8th, 2010 at 9:22 pm
The elephant in the room is distribution of income.
Ever since Reagan there has been downward pressure on wages, with more and more money going to a very few people at the top.
We need to take money from the high end and give it to the low end to restart broad-based consumption.
Don’t hold your breath.
May 9th, 2010 at 11:40 am
Note to George Noory:
If Americans wear shoes, we need to make shoes in America.
Like many academics, Richard Florida is clueless when it comes to the concept of value-add, which manufacturing does in abundance.
We cannot prosper without manufacturing.
May 9th, 2010 at 5:34 pm
As with all employment stats, what is important is to know where the jobs are lost/created – increases in public sector jobs are the exact opposite of what is needed.
May 9th, 2010 at 11:41 pm
Hi Richard. I heard you on Coasttocoastam the other night. You were a great guest and I was totally interested in what you said. I was a person who did not belived in goverment bail out, but when I heard the government gave it to a private bank, I asked for a modification and every struggeling American should. Because if the goverment is going to give it to the bank, we need to get our tax money back. I have actually send this letter to the CEO of Bank of America:
WHERE IS OUR LOAN MODIFICATION BANK OF AMERICA!?
If it walks like a piggy, talks like a piggy, by golly it’s a PIGGY!
BofA and it’s CEO Brian Moynihan reminds me of that song by John Lennon and George Harrison titled “Piggies” I invite you to listen to this song on youtube and see if it appropriately fits.
http://www.youtube.com/watch?v=NTmeHM-Hojg&feature=related
Have you seen the little piggies
Crawling in the dirt
And for all the little piggies
Life is getting worse
Always having dirt to play around in.
Have you seen the bigger piggies
In their starched white shirts
You will find the bigger piggies
Stirring up the dirt
Always have clean shirts to play around in.
In their ties with all their backing
They don’t care what goes on around
In their eyes there’s something lacking
What they need’s a damn good whacking.
Everywhere there’s lots of piggies
Living piggy lives
You can see them out for dinner
With their piggy wives
Clutching forks and knives to eat their bacon.
WELL I HAVE HAD ENOUGH AND I AM FIGHTING BACK!
John Wright Vs. Bank of America
Please join my fight or show your support through your comments at http://www.unitedlawgroup.com
Divided we might have fell America. UNITED WE MUST STAND!