Time for a New Round of Stimulus

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Time for a New Round of Stimulus

via PORTSIDE by <> on 6/9/09

Time for a New Round of Stimulus posted by Katrina vanden Heuvel

06/05/2009

http://www.thenation.com/blogs/edcut/441525/time_for_a_new_round_of_stimulus

"We might be witnessing the mother of all jobless recoveries."

That's how economist Bernard Baumohl described today's jobs report to the New York Times.

While there were "only" 345,000 jobs lost last month--as compared to 504,000 in April--the report doesn't account for the upcoming job losses as well as the ripple effect that will result from the GM bankruptcy. Nor does it reflect the severe budget shortfalls states continue to face. It did, however, reveal a continued collapse of wage growth, the highest unemployment rate in [...]

 

 

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