• News
  • Celebrities
  • Finance
  • Crypto
  • Travel
  • Entertainment
  • Health
  • Others

A Note to the GOP: Employment Is Always Last to Recover From a Downturn

There’s a message emerging from Republicans in Congress that says this: rising unemployment numbers are indication that the Democrats’ strategy for economic recovery has been a sheer failure, and they should be removed from office as a result.

What the critics don’t mention is the inconvenient fact that, at least in the last several decades, job creation has always been the last indicator to rebound from economic downturn. And anyone listening to economists over the past year would know that they’ve warned all along that unemployment would rise straight through 2009 and into 2010, regardless of the hundreds of billions of dollars committed to recovery.

Indeed, we ran a piece in February saying that very thing, including dark predictions from some of the country’s top economists:

Alice M. Rivlin, former head of the Congressional Budget Office: “The stimulus package is certainly not nearly big enough to get back to the bubble economy. With any luck, it will mitigate the job loss and make the recession less bad than it would otherwise be.”

Heidi Shierholz, economist at the Economic Policy Institute: “No one ever thought this would bring us back to the strong labor market of the late ’90s…There’s this incredible hope that [the stimulus] is going to solve things right away, and it’s just not.”

Chad Stone, chief economist at the Center on Budget and Policy Priorities: “The goal is to get the economy back to a higher level of employment, [but] everyone expects unemployment to rise in 2009.”

This makes some sense. Just as unemployment numbers rose gradually over the past two years, the recovery will likewise take some time, as month-to-month jobless figures slowly get smaller until we’re again into job-creation territory. This doesn’t make things any easier on the folks poised to lose jobs in the meantime, but it does reveal the fallacy of expectations that the country already should be fully recovered from the worst economic downturn in 80 years.

Discussion & Comments (0)

    Recent Articles

    • Things You Should Know about North America

      Things You Should Know about North America

      Get to know more about North America.

    • Eurovision 2010 Paula Seling Unpredictable Contest

      Eurovision 2010 Paula Seling Unpredictable Contest

      Paula Seling's experience on the Eurovision stage led her to declare that "Eurovision is an unpredictable contest". Which may explain the success of the young Lena from Germany, about whom the predictions before the event did not offer much chances for victory.

    • VIPRow.me - The Best Sports Streaming Website Today

      VIPRow.me - The Best Sports Streaming Website Today

      Have you ever contemplated creating a user-friendly site dedicated to sports-related free live streaming channels?

    • Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      XNXUBD 2022 Nvidia users are able to watch thousands of videos and other contents online. XNXUBD 2022 Nvidia New is a piece of software that enables people to watch videos online without having to pay for memberships. On a graphics card, the XNXubd also provides some of the best gaming and virtual reality experiences.

    • Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      A new edition of the Video Editor Apk for xVideostudio.Video Studio has all the latest features, including support for multiple video download formats in HD, FHD, and even 4K resolutions.

    • 9 Best Lotion For Masturbation - Popular Choice For 2022

      9 Best Lotion For Masturbation - Popular Choice For 2022

      Masturbation is a common activity for men and women. It's a natural and risk-free way to explore your body, experience pleasure, and release sexual tension.

    • Reasons Why You Need To Stop Watching Movies From Sflix

      Reasons Why You Need To Stop Watching Movies From Sflix

      Without having to sign up or pay anything, you can watch movies online for free with SFlix. It has more than 10,000 movies and television shows.

    • Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Collins (born May 11, 1997) is a rapper from the United States. Leray started publishing songs to SoundCloud in 2014, and in 2018 she released her breakthrough track "Huddy" as well as her first mixtape, Everythingcoz.

    • Listen And Download Music On MyFreeMP3 For Free

      Listen And Download Music On MyFreeMP3 For Free

      Are you in a bind and looking for a place to obtain free mp3 songs? Never again will you need to bother, since this article has everything necessary to obtain your solution. Download free music from MyfreeMP3.com, one of the world's most popular websites.