Today: "Looking at total labour input, aggregate hours worked [eked] out a tepid 0.8% annualized gain in Q3. We know looking at margins that productivity is softening. So put the two together and we are still talking about an economy that is barely expanding at a 1.5% annual rate or basically one-third the pace of what would be considered normal in the context of a recovery that is in its fourth year."
Very Frequently, while presenting his normal, clear, fact and data based analysis of the current economic scene, Rosie remarks about how this recovery's performance is oh, so far below that of a normal recovery.
In fact, though, a number of thoughtful types make the case that the recovery is putzing along at a quite normal rate for that of a financial recession.
Just the facts, ma'm. Enough with the "normal recovery" stuff. We are living the new normal. Hadn't you heard?
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