The Incredibly Shrinking Economy
Ok, I misspoke, in a way. The U.S. economy, as seen by large corporations and financial institutions, is growing at an exponential rate, thanks to “increased productivity“. That same $15 trillion-dollar economy, from the eyes of the millions of unemployed, is shrinking to a distant memory – a time when they could afford groceries without food stamps, a time when they could afford to take vacations.
Reports from the labor department and employment firms like ADP show that new jobs are being created, but as the blog Calculated Risk points out, it’s not enough. Actually, far from it. Accounting for population growth, we need millions more new jobs.