Jobless Recovery Archive

Bernanke describes jobless recovery

[Skip to the end] Yes, and this is a massive political risk. The deficit is getting large enough to stabilize the economy at high levels of unemployment. With flat employment growth, and 2% productivity growth, real GDP grows at 2% and unemployment stays north of 8%. And the equity markets are in ...Read More

Falling default credit crisis

The jobless recovery morphed into the full employment recession characterized by falling credit defaults: Global loan defaults down in 2007 but expected to rise in 2008 (Thomson Financial) Twenty issuers defaulted on 2.9 bln usd in syndicated bank loans in 2007, down from 32 issuers and 6.3 bln usd in loans in ...Read More