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July 9, 2009

Not Getting Worse As Fast As It Was Getting Worse

-- by Dave Johnson

The economy is not getting worse as fast as it was getting worse.

It's still getting worse, but, you know, things are better because they aren't getting worse quite as fast. Which means that although people are still losing jobs at an incredible rate, not as many people are losing jobs each week as was happening a few months ago.

So even though things are really, really bad, and getting worse, they aren't getting worse as fast.

Therefore ... Well I'm not sure what the point is. If a job loss of 565,000 in a week had been reported at almost any other time in the last 50 years, it would be considered horrific. But today it is good news because although things are still getting worse -- much worse -- they are not getting worse as fast as they were getting worse.

Posted by Dave Johnson at July 9, 2009 9:40 AM


Comments

In fact, in the corporate world we keep hearing these days that slowly but surely things are taking a turn for the better. Of course this wasa horrible year with no increase in salary (thank goodness I didn ot lose my job), but in general the situation is truly horrible now. The fact that I keep hearing things will improve shortly does provide mental comfort to some extent.

Posted by: Mark [TypeKey Profile Page] at July 11, 2009 2:44 AM

I guess everything is relative! Only a half million jobs lost instead of more? Wow! Both my husband and I have been laid off and I keep hearing how it's getting better but it doesn't feel that way here in SoCal where we are financially over our heads as a state.

Great article in any case.

Posted by: Kate Walker [TypeKey Profile Page] at July 14, 2009 4:32 PM

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