In the fall of 1984, I was a student living in Boston. A high-tax manufacturing state, Massachusetts had been hit hard by the economic troubles of the 1970s. But now suddenly there were signs in every shop window: "Help wanted." Or: "Help wanted!" Or even: "Help wanted!!!" One afternoon on my way to the subway, I paused in front of one of these signs in the window of a restaurant that catered to students. I stood maybe 10 seconds, maybe 12. The manager bolted out, put his hand on my shoulder: "Hey -- you want a job?"
That's what a strong economic recovery looks like.
Technically speaking, the U.S. economy is recovering right now. GDP growth has been positive since the summer of 2009. Employment is growing. If you like, you can say the recession is over.
But don't say it too loud. With 13.5 million people out of work -- 6.1 million out of work for 27 weeks or more -- the odds are high that one of them may hear and take offense.
The recovery is weak, and job creation is slow. Everybody knows that. But here's something that we don't know, or anyway don't think about enough: Isn't it weird that in this dismal economic situation, neither of the two great U.S. political parties is offering a plan to do anything about the job situation? (read more)
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