David Kirkpatrick

July 31, 2009

Q2 economy shrinks less than expected

Filed under: Business — Tags: , , , — David Kirkpatrick @ 1:58 pm

Overall I’d say this is good news even though it’s still a case of things just being less bad.

The key takeaway, however, is this:

We’re going from recession to recovery, but at least early on, it’s not going to feel like one,” said the chief economist at Moody’s Economy.com, Mark Zandi. “For economists, this is a seminal part in the business cycle, but for most Americans, it won’t mean much.”That is because the job market is expected to remain dismal even after the economy resumes growing. As business picks up after a recession and companies start receiving more orders and restocking their shelves, employers will still resist hiring new full-time workers, and instead pay overtime or rely on part-time employees.

1 Comment »

  1. […] case of calling bad news an encouraging sign (and as much as I’ve derided the practice, even I dipped a toe in that pool) the latest jobs report is bad — but, wait for it — it isn’t as bad as […]

    Pingback by Unemployment — more “good” bad news « David Kirkpatrick — August 7, 2009 @ 2:06 pm

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