Is the recent talk of "green shoots" coming out of this recession realistic? A recent report from the New America Foundation outlines the strong likelihood of a jobless recession that "could perpetuate the crises in the housing and banking sectors and prevent a sustainable and healthy economic recovery." A jobless recovery will prevent the wage growth necessary to stimulate business investment, maintain consumption, and pay down debt. read more »
Recession
Report on the Jobless Recovery: 18.7% Effective Unemployment Rate in May
Economic Resilience in Rural America?
This week Reuters is hosting a Food and Agriculture Summit in Chicago. On Tuesday presenters, including leading agribusiness executives and business economists, reported that despite the challenging global economic climate, the U.S. rural economy has weathered the recession better than most sectors due to steady demand for agricultural products, stable land prices and healthy credit lines for farmers". read more »
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Even the Super Bowl Can't Defend Pittsburgh From a Recession
Somebody call the New York Times. The national economic meltdown has finally come to Pittsburgh, a city-region where you’ll want to be on the day the world ends because you’ll still have several years to live.
Sunday’s Super Bowl game between the mighty Steelers and the upstart Arizona Cardinals – teams representing regions going in exactly opposite socioeconomic directions since 1950 – has eclipsed all non-sports news coming from Pittsburgh. read more »