[mEDITate-OR:
think that we are not in an"L" shaped recovery.
These two charts show U.S. what we all must know, by now.
This is not a "V" or "U" shaped recover.
We ARE in a full "L" shaped recover.
If the RE projections of Case-Shiller, and many others, is correct
we might even be in "W" recovery, and see another end year decline.
If the second article is correct, this same jobless patter MAY last
for another year and a half.
That would be economically and politically very ugly.
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Unemployment Claims Continue Plateau
By ANNIE LOWREY 5/27/10 11:24 AM
Weekly initial jobless claims fell to 460,000, down 14,000 from the prior week, the Labor Department announced this morning. Economists had expectedunemployment claims to fall to 455,000. The four-week average fell a bit to 456,500. The drop is good news, in some sense, but the plateau in new jobless claims is worrying. The unemployment and underemployment rates remain very high, high enough to stall out the recovery. And initial jobless claims need to drop for the unemployment rate to recede. Joe Weisenthal at Business Insider shows the plateau with this graph:
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Jobless Claims Dip, But Real Employment Gains Appear Stalled
while the current recovery has substantially lowered continuing claims, because the deep, long recession that began in December 2007 triggered so many lay-offs, the nation -- barring a sudden surge in hiring this year -- is not likely to see continuing claims return to normal levels for at least a year and a half, and probably longer.
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Jobless claims drop to 460,000 last week
http://news.yahoo.com/s/ap/us_jobless_claims
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