In the same week we get government reports that the U.S. economy grew 3.3. percent, but the jobless rate rose to 6.1 percent in August. That’s up from 5 percent in April, the kind of rise that screams of recession.
But what if job losses no longer mean recession? What if the kind of jobless prosperity fretted about for, well, at least 15 years has started to emerge. What if Nick Carr is right about jobs being made obsolete?
Are we seeing a recession? The arrival of the real New Economy? Or something else?
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