Saturday, July 03, 2010


The general rule is that, to keep apace with the population, the US economy must grow at 150,000 jobs per month to be 'even' in terms of employment. Any month it fails that bar is a month that more Americans are out of work than the previous.

W had a truly abysmal record on that front - but it sure doesnt seem things are any better these days...

In June - the economy actually shed jobs - with a big minus 125,000.

In the face of numbers like that, you'd think we'd be talking about increased unemployment benefits or new stimulus packages... but no.

"Reacting to the figures US President Barack Obama said the economy was heading in the right direction, but not fast enough."

If it goes faster in this direction no one will have a job.

Then again, Krugman is finally starting to sound more like me - so maybe someone somewhere will start listening.

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