The Jobless Recovery

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People who study the economy, keep telling us there’s good news and bad news. The good news is the economy is growing, if only by less than a percent in the last quarter. The bad news is, so is the number of unemployed Americans.

It’s an economic conundrum that has millions of laid-off workers wondering why an economy on the rebound is leaving them behind. “We must have an economy that grows fast enough to employ every man and every woman who seeks a job,” the President said in his State of the Union address. And he added something that sounds obvious: “Jobs are created when the economy grows.” But here’s the problem: the economy is growing, but jobs are not. Where have all the good jobs gone?


Michael Mandel, chief economist, Business Week;
Chip Conley, president and CEO, Joie de Vivre Hospitality