If you are one of the 30,000 Americans who lost a job last month, you might be surprised that some people think that statistic is good news. The explanation is that for the past two years, the U.S. economy has been losing ninety-thousand jobs a month, and so some think anything less may be a sign that things are getting better.
Some of these same folks even think the current unemployment rate, which at 6.4 percent is the highest it’s been in nine years, is a sign of economic vibrancy because it shows that more people are out, pounding the pavement and looking for work. Ask these forecasters where the jobs are and they’ll tell you to hang loose, be flexible, take risks and be prepared to live life as a temp, at least for a little while.
Guests:
Michael Mandel, chief economist, Business Week
Robert Pozen, Massachusetts Secretary of Economic Affairs.