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View Diary: Gain in payroll jobs higher than expected. Unemployment rate falls to 7.5%. Revisions soar. (77 comments)

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  •  Same as it ever was (3+ / 0-)

    not good enough to help those hurting, not bad enough to suggest a recession anytime soon.

    Corporate profits grow, the stock market explodes, productivity explodes, and workers see little of those productivity gains in their pocket.

    There is a structural problem: when productivity increases but wages do not, a gap is created between what could be produced and what is produced because there is not enough demand.  Government can fill the gap for a while - and I support that - but I don't think there is an answer to the problems created by globalization and automation in the medium or longer term.

    I have been posting about this for 10 years - and really haven't read much that suggests a  solution.

    The bitter truth of deep inequality has been disguised by an era of cheap imported goods and the anyone-can-make-it celebrity myth - Polly Toynbee

    by fladem on Fri May 03, 2013 at 07:45:43 AM PDT

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