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This *Is* the Oddest Recession in Memory

Posted on August 05, 2008

Tim Duy recovers from a computer crash and freshman advising to look around: Economist's View: Fed Watch: Anemic: [T]wo weeks later, the economy looks pretty much the same... anemic. ... [T]he July employment report with a headline nonfarm payrolls decline of 51k, a tepid number to be sure, but not the triple digit declines normally associated with a recession.... [T]otal hours worked decline sharply, temporary employment decreased, real wages are declining, and the number of part time for economic reasons continued to climb. The latter is helping to drive up the broadest measure of unem...

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bernanke , economy , fed , inflation