Real GDP increased 2.4% during 2002. That’s less than full-capacity, but not too shabby. The news story is here. The news release from the Bureau of Economic Affairs, which is contains more information, is here.
It’s interesting that people are so down on the economy, when there’s still modest growth, and the job market has remained relatively strong — i.e., unemployment remains at 6%. I wonder if the hand-wringing is caused by the fact that, this time, it’s white collar jobs (internet, finance & law, especially) that are tough to come by. It may be that journalists associate more closely with the people that want these types of jobs (and can’t currently find them) than they do with more blue collar workers, who seem to be doing O.K.
Real GDP increased 2.4% during 2002. That’s less than full-capacity, but not too shabby. The news story is here. The news release from the Bureau of Economic Affairs, which is contains more information, is here.
It’s interesting that people are so down on the economy, when there’s still modest growth, and the job market has remained relatively strong — i.e., unemployment remains at 6%. I wonder if the hand-wringing is caused by the fact that, this time, it’s white collar jobs (internet, finance & law, especially) that are tough to come by. It may be that journalists associate more closely with the people that want these types of jobs (and can’t currently find them) than they do with more blue collar workers, who seem to be doing O.K.
Even Better Thoughts