March 15, 2011 |
Overshadowing the nation's economic recovery is not only the number of Americans who have lost their jobs, but also those who have stopped looking for new ones. These workers are not counted in the Labor Department 's monthly unemployment rate , yet they say they are willing to work. Since the recession began, their numbers have grown by 30 percent, to more than 6.4 million, amounting to a hidden labor force that could stymie the turnaround. Adding these workers to February's jobless rate pushes it up to...
October 10, 2011 |
It's time to admit something: The economy is not recovering. It is, if anything, unrecovering. We've added an average of 119,000 jobs a month since January. That's better than the 78,000 new jobs the economy averaged per month in 2010. But it's barely enough to keep up with population growth. It's not nearly enough to cut into the unemployment rate . And over the past three months, it has fallen to 96,000 per month. According to Macroeconomic Advisers, growth for the rest of the year is tracking at...
July 17, 2011 |
Maybe we Americans can learn from Latvia. Yes, Latvia. To the geographically challenged, Latvia is a small country ( population: 2.2 million ) bordering the Baltic Sea with two other tiny neighbors, Estonia and Lithuania. More relevant for our purposes, Latvia has just come through a horrendous economic crisis far worse than anything Americans have yet endured. Unemployment reached 20.5 percent in early 2010 ; Latvia's gross domestic product — its output — dropped 25 percent from its peak.
May 13, 2011 |
The past few months have reminded Americans that progress can mean two steps forward and one step back. The death of Osama bin Laden has lifted President Obama's approval ratings — temporarily — but also increased fears of a retaliatory attack on U.S. soil. Economic recoveries abroad are bringing job growth — and higher oil prices. In the eighth "How We're Doing" Index , scholars at the Brookings Institution looked at the past five quarters and found an uneven economic recovery that is much...
April 10, 2012 |
Why is this recovery different from all other recoveries? Many of the reasons are widely known: Rebounding from a financial crisis takes an excruciatingly long time; the huge decline in housing values has reduced Americans' purchasing power; large corporations are making do with fewer employees — at least, in this country. But what really sets the current recovery apart from all its predecessors is this: Almost three years after economic growth resumed, the real...
February 28, 2012 |
The nation's home prices have fallen to their lowest level since 2002, according to a private report, casting a troubling shadow over what has otherwise been a brightening economic recovery. Although analysts have been nervously eyeing rising oil prices and Europe's struggling economy, Tuesday's S&P/Case-Shiller index of property values report offered a sobering reminder that the still-shaky housing market remains one of the most potent threats to a robust recovery. In December,...