The Recession Has Not Ended for Private Sector Employment
by Larry Huss Wednesday, July 11. 2012
The technical definition of a recession is when the nation’s Gross Domestic Product (GDP) declines for two successive quarters. From a private sector worker’s standpoint that appears to be a reasonable definition because as the economy contracts, employment contraction occurs simultaneously. However, utilization of the same data for determining when a recession ends – two successive quarters of growth in the GDP – does not find a corresponding
increase in employment. The net result is that while private sector workers almost immediately feel the brunt of the beginning of a recession, the technical end of a recession seldom brings any degree of relief to them. That is
particularly true in this most recent Bush-Obama recession.
Read More
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by Larry Huss Wednesday, July 11. 2012
The technical definition of a recession is when the nation’s Gross Domestic Product (GDP) declines for two successive quarters. From a private sector worker’s standpoint that appears to be a reasonable definition because as the economy contracts, employment contraction occurs simultaneously. However, utilization of the same data for determining when a recession ends – two successive quarters of growth in the GDP – does not find a corresponding
increase in employment. The net result is that while private sector workers almost immediately feel the brunt of the beginning of a recession, the technical end of a recession seldom brings any degree of relief to them. That is
particularly true in this most recent Bush-Obama recession.
Read More
Related Posts:
On Reason TV, Andrew Ferguson Discusses the Parasite Economy of Washington, DC
Study: More Than Half a Trillion Dollars Spent on Welfare But Poverty Levels Unaffected
Everything you know about economics is wrong
Oregon Ranks 45th for Economic Outlook
Collapsing Local Government
10 Worst States for Business 2012
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