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5Carnophile
>2 codyed: I didn't say I believe him. Just passing along the message. He might be right, though. Anyway, (platitude) time will tell (/platitude).
6margd
>2 codyed: According to graph, the longest recovery periods for jobs have occurred with the last four recessions (1981, 1990, 2001, 2007) and it gets longer each time (?) Why is that?
7readafew
6 > my first guess would be because more jobs get exported to cheaper labor markets each time.
8MatthewN
>7 readafew: Correct! We don't produce nearly as much compared to 50-100 years ago. Gotta love this services economy.
9margd
The unemployment rate in Michigan is 15.2%. With the underemployed (formerly employed people now in part-time jobs, etc.), it's 22%! Detroit has long been a deeply depressing place. Now, the rest of the state sinks... Even in relatively well-off university-town Ann Arbor, traffic seems lighter on highways and in stores. Educated young people are leaving the state in droves. When I look at cody's graph, I hope that Michigan's present is not the US's future.
10Carnophile
Advance estimate from the Commerce Dept.: Real (i.e., inflation-adjusted) GDP grew at 3.5% last quarter.
