CEPR - Center for Economic and Policy Research

Multimedia

En Español

Em Português

Other Languages

Home Publications Blogs Beat the Press What Do You Know, the Recession Is Actually Serious Bad News

What Do You Know, the Recession Is Actually Serious Bad News

Print
Thursday, 19 May 2011 04:05

In an article on the poor employment prospects for recent college grads, the NYT told readers:

"Now evidence is emerging that the damage wrought by the sour economy is more widespread than just a few careers led astray or postponed."

This is actually a good article that includes some new evidence on the extent to which recent college grads are either working at jobs that do not require a college degree or out of work altogether. (The graph accompanying the article shows that 22.4 percent are out of work altogether and 22.0 percent are working at jobs that don't require a degree.)

It's just striking that a sentence like this appeared near the top of the article. We're just now discovering that there is serious damage from this downturn? Some editor was asleep at the wheel on this one.

Comments (2)Add Comment
...
written by urban legend, May 19, 2011 2:58
"Recession"? Um, I'd call that a Depression with a capital D. The official unemployment rate may be worthwhile for comparison purposes, but as a measure of actual current unemployment it's garbage. Of course, economists of the kind who accept without challenge the "official" NBER declaration that the "recession" ended over a year ago are the last to know.
...
written by cemmcs, May 19, 2011 4:15
We're just now discovering that there is serious damage from this downturn?

Hilarious!

Write comment

(Only one link allowed per comment)

This content has been locked. You can no longer post any comments.

busy
 

CEPR.net
Support this blog, donate
Combined Federal Campaign #79613

About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

Archives