This is especially troubling because the economy is still such a long way from being healthy.
Lawrence Katz, the Harvard labor economist, estimates that 10.6 million jobs would need to materialize immediately to return the job market to its condition when the Great Recession began.
For it to get there four years from now, the economy would have to add 316,000 jobs a month. That pace would be faster than in any four-year stretch of the 1990s boom.
Uh-huh. That’s what I thought. That’s what most economists thought. That’s what everybody who didn’t have his head up his ass thought.