
Job Losses Slow, Signaling a Shift in Economy - newacc
http://www.nytimes.com/2009/08/08/business/economy/08jobs.html?_r=1&hp
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giardini
Is this what passes for "good news" these days?

Job losses continue although at a declining rate. The change is from 9.4% to
9.5%, hardly significant - see the following article which says as much:
[http://www.economist.com/blogs/freeexchange/2009/08/why_did_...](http://www.economist.com/blogs/freeexchange/2009/08/why_did_unemployment_fall.cfm)

This guy also thinks it isn't even good news yet:
<http://krugman.blogs.nytimes.com/2009/08/07/jobs-paradox/>

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dmlorenzetti
Not only does a decreased rate job losses fail to indicate things are getting
better, it also fails to indicate a "shift in the economy" (as the headline
claims).

When a system changes from one steady state to another, as it approaches the
new state it will tend to change less dramatically (e.g., a hot cup of coffee
changes temperature more slowly as it approaches room temp). In other words, a
slowing rate of job losses may simply mean that the economy is settling in to
a new state determined by a shift that happened long ago.

