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US employment shows continued half-hearted recovery [ClearOnMoney]
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US employment shows continued half-hearted recovery

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Commentary

US employment shows continued half-hearted recovery

8 Dec 2013 by Jim Fickett.

Reporters were right to be more or less positive about the employment report – year-over-year growth remains at 1.7%, which is above the neutral rate. Still, this is the least enthusiastic recovery since records began in 1940, and there is no indication of the pace of recovery improving.

In my view the whole idea of “stimulus” is more marketing than science, and the current lackluster recovery is at least partly due to a long history of the Federal Reserve encouraging banks to be too big, helping unfit business continue rather than be replaced by better ones, and encouraging the best young minds to go into the worst professions, such as house flipping and the invention of stupidly complex financial instruments.