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Rambling thoughts on who knows what... Because not everything is as the conventional wisdom would have it... BLOGS I SORT OF LIKE... Volokh Conspiracy ProfessorBainbridge MarginalRevolution Patterico Powerline Ace Wizbang JustOneMinute XRLQ Betsy's Page HE WHO USED TO LINK ME EVERY NOW AND THEN InstaPundit Email Steve
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Wednesday, November 25, 2009
While fewer people getting laid off is welcome news, repeat after me, IT IS NOT AN IMPROVEMENT! And it is NOT A SIGN OF RECOVERY!
An improvement is when more people find jobs than lose them. A sign of recovery is net hiring instead of net reductions in staff. Analogy: you have a 101 degree temperature. An hour later, it's at 101. An hour after that, 102. An hour after that, 102.5. Are you recovering? Or are you getting more sick, albeit at a slower rate? You ain't getting better until your temperature starts to drop. And the economy isn't there yet, we are still shedding more jobs than we're adding.
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