JOBS = MONEY
Double dip, slow recovery or still in the first recession. These are the arguments being discussed over the last few months by economists.
The phrase "Jobless Recovery" is really quite interesting. Is it an oxymoron? Can you have a recovery without substantial job creation. Let's start with an insane hypothetical, one man has all the money and there are no other jobs. It would be obvious that this one man probably will spend it, otherwise why earn it. Spending it will create jobs, aka: 'A recovery WITH jobs'.
Let's say ½ the population has all the money and the other ½ don't work. Let's say the ½ with money are concerned about their own jobs and won't spend anything they don't need. Will ½ the population simply lie down and die, or would they start their own markets, gathering food and selling it using some new currency? I'd bet the latter.
But today we have 75% of the people working and 15% collecting unemployment, 5% getting welfare and 5% living w/friends or family. Can this economy grow (aka: recovery) without generating jobs? Lets say every business finds 20% efficiency's and hire no one and give out no raises. They are all storing wealth. If they give out raises, the money will likely be spent - after all your company is more profitable and you feel safe in your job - and jobs are created.
The lack of jobs in this recovery can only mean one thing, this economy is not in recovery.