Jobless recoveries are historical norm

Paul Krugman counters Republican assertion that Obama is responsible for weak job growth. Money quote:

The starting point for many claims that antibusiness policies are hurting the economy is the assertion that the sluggishness of the economy’s recovery from recession is unprecedented. But, as a new paper by Lawrence Mishel of the Economic Policy Institute documents at length, this is just not true. Extended periods of “jobless recovery” after recessions have been the rule for the past two decades.

Unfortunately, too many ignore history and facts, preferring to believe their own fantasies.

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Filed under economy, Politics

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