Krugman on the jobs report

[ProSense]

The Patient Is in Stable Condition

That’s the message of today’s jobs report. The economy is clearly adding jobs, even once you adjust for Census hiring and February snow. But not fast enough to make a dent in mass unemployment.

[DrToast]

1. Krugman: Still wrong about the recovery

No double dip recession, a V-shape recovery and not a jobless recovery.

[Hippo_Tron]

5. In fairness, predicting recovery is far from an exact science

And Krugman actually isn't a macroeconomist even though a lot of his articles in the NYT are about macroeconomics.

[DrToast]

7. I completely agree.

That's why a little humility is in order when making such forecasts. I guess I'm more upset at him at that than him being wrong.

[mkultra]

11. Its his breathless zealots you should be upset with

they are the ones that stretched his simple views into prophetic visions.

[depakid]

16. You must not have read what he wrote

and you must find the prospect of long term high unemployment to be a big happy V.

Or something.

:crazy:

[bluestateguy]

2. Considering that Krug is usually a Debbie Downer this is good news

nt

[monmouth]

3. This will be disappointing to some here on DU....n/t

[Kdillard]

4. k and r. "Stable condition" is positively giddy for Krugman.

[joeybee12]

6. Gee, not that long ago SOME people here would post his columns only to trash him

The times, they are a'changin'.

[Lerkfish]

8. actually I would classify it as someone applied a tourniquet, but the patient is still bleeding out

from other severed limbs.

[Mojorabbit]

10. +10 nt

[HughMoran]

14. cute

Completely without meaning, but cute.

[Lerkfish]

18. you want meaning?

I'm unemployed for a year. I got all the meaning I need. How about you? comfortably employed?

be honest,

[HughMoran]

19. 3 jobs in one year

...after 15 years working my ass off to establish a solid reputation for myself. Fortunately my hard work paid off to an extent as I was able to get a job after a couple months of no work, though it was only a contract job that lasted just a few months. I then lucked out and found a job nearby at a small company - 25% pay cut, but it's work and I like working close to home. If the economy does a double-dip, this small company will likely go under, so job security is a thing of the past. I hope you find work soon.

[Kurt_and_Hunter]

21. Without meaning? Well, let's see...

What makes a metaphor meaningful? Aptness... resemblance... correspondence...

Were get a monthly jobs report that is the best in several years (new and positive development, like application of a tourniquet) and that keeps the unemployment rate from going higher (reduction of bleeding but still bleeding) but that is insufficient to restore what we have been losing (jobs/blood) and if continued without some additional measure would result in the death of the patient.

Seems a reasonably meaningful metaphor. I don't know if it is the best metaphor possible, but it ain't without merit.

[Loge23]

9. The problems remain.

There has been a uptick from the ocean floor as it were, but the problems remain and the root causes of the recession are systemic.
Indicators such as manufacturing, construction, and consumer spending are not indicating expansion by any means: they are responding to the continued inherent need for goods and replacements. The unemployment rate is still uncomfortably high, but upwards of 80% of the workforce may be still employed and these people, regardless of their income, are spending something.
I don;t see manufacturing in the US staging any signiifcant comeback - indeed as demand does increase, there will undoubtable be more manufacturing moved offshore.
Construction is still years away.
Spending will last as the jobs do.
Health care, as this is phased in, will impact spending.
In the meantime derivatives are still being traded, phenonmenal money is still being made by a few Wall Streeters, and wages remain stagnant for everyone else.
So hold on to the Champagne (or seltzer).

[mkultra]

12. lol

[depakid]

17. This reminds me very much of what I see on the other side of the aisle

pride in denialism and ignorance.

The poster above made several astute points.

[Loge23]

20. Sad, what this forum has become

My post is a simple opinion about what I'm seeing in the marketplace. People are free to disagree and if they live in an area where there is activity - good for them!
I'm a professional businessperson, I hold an MBA. Not that that makes me an expert, but I do know of what I speak.
For people to dismiss commentary with an idiotic "lol" is also simply indicative of the level of their own opinion.
I appreciate your support and thank you for sticking your neck out.

[HughMoran]

15. Kind of overreacting a bit - lol

Who is popping a cork in this thread?

The O/P? NO!

Talk about looking for a reason to 'bring everybody back to reality'!

There aren't enough folks doing this here already - lol.

[Hawkowl]

22. I agree with your handle

LOL

[DCBob]

13. Stable is great considering we were near death..

Clearly we are heading in the right direction now.