US Recovery? Tell it to the unemployed!

[Triana]

It's worth pointing out that FORBES is *not* a "liberal" rag. Quite the opposite!
_

Reuters, 12.18.03, 1:47 PM ET

By Alister Bull

CHARLOTTE, N.C. (Reuters) - For Diane Back, the growing U.S. economic recovery still feels like a recession.

Her husband, Ed, and youngest son, Alan, have PhD and MBA degrees between them but both have been out of work for months in this prosperous banking town.

"The economy is supposed to be inching back up, but we don't see any jobs being created. I was at a support group for job hunters last night and that room was just full of experience and talent," she said.

...

OUTSOURCE PAIN

Unfortunately, some of the precious new high-end jobs are now being lost through outsourcing to cheaper locations like India, as big local employers like Bank of America are planning a subsidiary on the sub-continent to cut costs.

...

"This is the hidden story of the U.S. economy. We hear all these great numbers for growth, but in North Carolina, it's not doing great at all for the folks without work," said Bobby Sutton, an associate dean at the Southern Piedmont Community College...

(snip)


www.forbes.com/work/newswire/2003/12/18/rtr1186293.html

[nadinbrzezinski]

1. confirms what many of us are seeing

anectodally, people vote pocket book and once forbes and others start
running these kinds of stories the game is over

[ozone_man]

3. Aye, once people wake up to the Bush "recovery".

I'm afraid that we are in a much worse period than 1990, when elder Bush lost to Clinton, as people voted with their pocket books. The debt, both personal and national, is crushing, preventing any kind of lasting recovery.

The only question remaining is whether Bush will be able to perform the illusion of a recovering economy until re-election. My bet is that he won't.

[mandyky]

2. 80,000 unemployed will be dropped

from unemployment rolls between now and New Year, not because they have found work, but because the GOP Congress and WH resident don't give a shit about people who've lost their jobs and did not extend the unemployment coverage before going out on break.

[BuelahWitch]

4. Bet the "new jobs" were all Xmas retail

They'll disappear in about a week...

[Triana]

5. yard work, mickeyDs, Mal-Wort,

minimum-wage, 'free' overtime, no bennies - hoo yea...the repukes did this same thing in the late 80s/early 90s - they REFUSED to extend UI bennies to long-term unemployed so they don't have to include them anymore in their statistics.