For those of you interested in how America’s “jobs recovery” is really panning out, Bloomberg has just posted a fascinating interactive graphics feature you simply must check out.
It’s nine easy-to-read charts, accompanied by incredibly digestible (and difficult-to-argue-with) conclusions drawn from the data by reporter Matthew C. Klein. Rather than opine on it ourselves, we’ll simply let you view the data (and Klein’s analysis) for yourself …
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No need to argue with this data. The argument arises over the root causes of this Great Recession, and what fiscal policies would aid in the recovery.
This recovery has lagged due to inadequate government stimulus to the consumer sector, and pressure for austerity by the foes of social safety net programs.
Rather than raise the cap on FDIC wages, austerians press to lower the cap and for chained CPI.
Rather than increasing the top income tax bracket rate and capital gains taxes on the rich, austerians want to cut food stamps for the poor.
This “recovery” has been a classic example of that old song refrain “the rich get rich and the poor get poorer. Ain’t we got fun?”