Reich: Jobs Market in Worst Shape Since Great Depression

I don’t usually agree with much that Robert Reich says, but when a Keynesian get’s it right(since they are often the last to join the party) you know the employment outlook is bleak.

JT

Economist Robert Reich says America’s ongoing jobs depression, “which is what it deserves to be called, is the worst economic calamity to hit this nation since the Great Depression.”

“It’s also terrible news for President Obama, whose chances for re-election now depend almost entirely on the Republican party putting up someone so vacuous and extremist that the nation rallies to Obama regardless,” Reich writes in his blog.

The problem is on the demand side, wrote Reich, now a professor of public policy at the University of California at Berkeley.

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via Reich: Jobs Market in Worst Shape Since Great Depression.

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