Spidey wrote:With the economic news I just heard tonight, we won’t need a double dip…we are just going to enjoy this condition for a long long time.
In other words, first you have to get out of a slump, before you can get into another one.
far too many people equate a slump in employment with recession. Two different animals, and folks seem to have lost sight of the realities. As the slump started showing on the horizon(2005 or a bit later) to economists and other business types, most large corporations went into hyper-mode to improve efficiency. They succeeded, many spectacularly, and thus need far fewer workers today than pre-2005 to do the same work. Thus, you get an economic upturn with job growth that is lower than the growth of the workforce. Frankly, we're damned lucky that unemployment isn't heading into the mid-teens, and I won't be surprised if that comes to pass, unless we develop large, core industries around new technologies to address contemporary demands world-wide. Such development is never overnight, and comes real slow to a naton with an aging infrastructure and unfocused population. It might get real ugly out there in the next decade....