Summers: ‘Statistical Recovery and Human Recession’

Neal Lipschutz
The Wall Street Journal
January 30, 2010

Key Obama economic adviser Larry Summers coined a telling way to look at the current American economic state of play. He said the U.S. is experiencing a “statistical recovery and a human recession.”

It is a phrase that should resonate through much of the industrial world, where high and long-standing unemployment is increasingly becoming a huge domestic political issue.

Speaking on a panel at the annual meeting of the World Economic Forum in Davos, Summers said one in five American men aged 25 to 54 are unemployed. He said given a “reasonable recovery,” that rate could improve to one in seven or one in eight. That still contrasts with a 95% employment rate for that group in the mid-1960s.

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How To Survive Despite the Economy!

By Susan Hinds

Are you worried about their ability to move ahead when you are constantly bombarded with information about how bad things are? Every time you listen to the television or radio there is more news of job cuts and it seems like the media is trying to scare us to death. The present state of the economy offers you an opportunity to look at your life and make the decision to give up or to try a new approach. Here are 7 tips to make sure that you move ahead and make the coming years your best ever.

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