Saturday, 4 February 2012

The Jobless Recovery

There is growing evidence that a number of economies are making (weak) recoveries from the depths of the depression.  These recoveries are not being matched by a rise in employment - unemployment remains stubbornly high in most countries.

This, however, suggests that productivity is rising ... and if we can maintain that trend - as firms do start to take on workers - we might get a 'real' - and 'strong' - recovery.

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