Jobless Recovery Explained in Two Simple Statistics

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Thursday, April 15, 2010 at 8:50 am

Wondering what’s behind those recent jobless recovery numbers?

1. Fortune 500 companies tripled their profits to $391 billion in 2009.

2. They also slashed their payrolls by more than 800,000 jobs.

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36 Comments

I Travel (live) Simple Minds
Pingback posted April 15, 2010 @ 11:01 am

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Profits and Unemployment « Open Economics
Pingback posted April 15, 2010 @ 12:27 pm

[...] Krafft Capitalism is doing what it does best- exploitation. Via Ezra Klein, Annie Lowrey has the only two stats you really need to know: 1. Fortune 500 companies tripled their profits to $391 billion in [...]


Matthew Yglesias » Jobless Recovery Shows Inadequate Demand
Pingback posted April 15, 2010 @ 3:15 pm

[...] Lowrey explains the jobless recovery: Wondering what’s behind those recent jobless recovery [...]


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Comment posted April 15, 2010 @ 5:19 pm

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Kevin Postlewaite
Comment posted April 15, 2010 @ 7:49 pm

Do these statistics tell us anything worthwhile about how many jobs are involved? They may be interesting from an industrial organization point of view, but the number of jobs a company has can fluctuate dramatically depending on which tasks are performed in-house and which are purchased from other firms. The fact that some big firms have been able to organize themselves around their high-profitability activities and potentially out-source their low-profitability activities does not help to understand a jobless recovery.


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Pingback posted April 16, 2010 @ 12:03 am

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R. Pointer
Comment posted April 16, 2010 @ 12:53 am

Makes me proud to be an American. Hope Uncle Sam bought some good stock!


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Pingback posted April 16, 2010 @ 3:02 am

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Richard (RJ) Eskow: The Case Against Jamie Dimon: Oligopoly, Pain, and Systemic Risk in Five Slides | Legal-Sleaze.com
Pingback posted April 16, 2010 @ 2:52 pm

[...] for the wonderful state of large corporate America that Dimon celebrates, it came in part because Fortune 500 companies laid off more than 800,000 people in 2009. For these people, life is "very, very, very, very" [...]


Richard (RJ) Eskow: The Case Against Jamie Dimon: Oligopoly, Pain, and Systemic Risk in Five Slides | Gabbur
Pingback posted April 16, 2010 @ 2:54 pm

[...] for the wonderful state of large corporate America that Dimon celebrates, it came in part because Fortune 500 companies laid off more than 800,000 people in 2009. For these people, life is “very, very, very, very” [...]


Jobless Recovery Explained in Two Simple Statistics « The Washington Independent < my824.com
Pingback posted April 16, 2010 @ 3:23 pm

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Richard (RJ) Eskow: The Case Against Jamie Dimon: Oligopoly, Pain, and Systemic Risk in Five Slides « In The News « Obama America
Pingback posted April 16, 2010 @ 5:06 pm

[...] for the wonderful state of large corporate America that Dimon celebrates, it came in part because Fortune 500 companies laid off more than 800,000 people in 2009. For these people, life is "very, very, very, very" [...]


Richard (RJ) Eskow: The Case Against Jamie Dimon: Oligopoly, Pain, and Systemic Risk in Five Slides | Goo News
Pingback posted April 16, 2010 @ 5:46 pm

[...] for the wonderful state of large corporate America that Dimon celebrates, it came in part because Fortune 500 companies laid off more than 800,000 people in 2009. For these people, life is “very, very, very, very” [...]


High Company Profits and the Jobless Recovery | LesBnB.com
Pingback posted April 16, 2010 @ 6:43 pm

[...] March 2010 was the best month for jobs in three years, but it didn’t make a dent in the official unemployment rate. As we prepare for the long climb out of historic unemployment, Annie Lowrey of the Washington Independent submits “The Jobless Recovery in Two Simple Statistics”: [...]


Obama Signs Jobless Bill; Now, How About a Jobs Bill? | NEWS Gate
Pingback posted April 16, 2010 @ 8:19 pm

[...] cuts and layoffs are expected in state capitols. Yesterday, new jobless numbers rose. Annie Lowrey explained the jobless recovery with two simple [...]


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docmerlin
Comment posted April 17, 2010 @ 7:21 am

Well, in part the profits exist /because/ they slashed workers.


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10 Reasons Mommy Bloggers Deserve Condescension From The New York Times — The Girl Revolution
Pingback posted April 18, 2010 @ 12:32 pm

[...] to $391 billion in 2009. They also slashed their payrolls by more than 800,000 jobs, according to The Washington Independent [...]


The jobless recovery, explained | Political Bloviation
Pingback posted April 18, 2010 @ 6:01 pm

[...] unwilling to resume hiring. Ezra Klein – The jobless recovery, explained. Annie Lowrey brings the data: Wondering what’s behind those recent jobless recovery [...]


Food “Safety” Reform and the Covert Continuation of the Enclosure Movement | Farm Wars
Pingback posted April 28, 2010 @ 6:21 pm

[...] [2] “Jobless Recovery Explained in Two Simple Statistics” by Annie Lowrey. The Washington Independent. 4/15/10. http://washingtonindependent.com/82327/jobless-recovery-explained-in-two-simple-statistics [...]


reverendrodney
Comment posted April 29, 2010 @ 1:43 pm

Will these statistics be mentioned on Fox news by any chance? Just askin'.


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Pingback posted April 29, 2010 @ 8:33 pm

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Jobless claims rise for second straight week
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1 Year Ago in Banking and Housing « Investing Today Blog
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Food ‘Safety’ Reform and the Enclosure Movement | PCAS LABS
Pingback posted May 10, 2010 @ 11:08 pm

[...] [2]  “Jobless Recovery Explained in Two Simple Statistics” by Annie Lowrey.  The Washington Independent. 4/15/10.  http://washingtonindependent.com/82327/jobless-recovery-explained-in-two-simple-statistics [...]


Terrance Heath: The Jobs Deficit & The Breaking Point, Pt 1.
Pingback posted May 28, 2010 @ 2:46 pm

[...] Except that I’d say the link between job creation and economic growth is near the breaking point, because in our Bizarro World economy, growth is becoming more closely linked to job reduction, as The Washington Independent’s Annie Lowrey explained in two simple statistics: [...]


Terrance Heath: The Jobs Deficit & The Breaking Point, Pt 1. | What's hot right now....
Pingback posted May 28, 2010 @ 2:48 pm

[...] Except that I'd say the link between job creation and economic growth is near the breaking point, because in our Bizarro World economy, growth is becoming more closely linked to job reduction, as The Washington Independent's Annie Lowrey explained in two simple statistics: [...]


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