Thursday, November 27, 2014

Wordspeak of the Year

Over at CR Bill has nominated "employment" as his word of the year.  His claim is:

In May 2014, employment
and 2014 will be the best year for 
employment since the '90s.

I guess if by employed you mean a job, any job no matter how meager. 

Here's the truth about the recovery in "jobs":


Stagflationary Mark said...

I would have thought "ZIRP" might have made his word of the year list, but perhaps it would be more appropriate as word of the decade, lol. Sigh.

Rob Dawg said...

-WHICH- Decade? ;)

I just find it disingenuous for someone that smart to think his perspective on jobs growth is reasonable.

Stagflationary Mark said...

Rob Dawg,

He's definitely the optimist. He wears the "not on recession watch" quote like a badge of honor. I can't see how someone that smart can't at least be looking for cracks in the dam.

I don't think he sees any structural problems at all, much like everyone else who is convinced that we can simply extrapolate 200 years of historical prosperity well into the distant future.

P.S. Many with college degrees are now fighting for jobs that do not require a college degree. That's what I see when I look at the data up close and personal (nail salon jobs, pet care jobs, restaurant jobs, ...). There isn't going to be a long lasting recovery. It's just one big cluster@#$%. I sure hope I am wrong to think this way. Maybe I'm just not that much of an optimist. Sigh.

Rob Dawg said...

The problem as I see it is the massive disinvestment in people. Wasting math grads as varristas means their contributions that take ten even thirty years are not going to appear. That was the drive for two centuries.

LBD said...

Bowling with an 80 year old guy the other day and mentioned I wonder how many people here think the unemployment number means everyone else is working. He answered "Disgusting, that is what most think."

My daughter just told me of a free sample of Hersey kisses at Sam's club from a machine by scanning her club card. One more job gone.