Reich: Unsatisfactory Jobs Market Could Continue for Another 10 Years!

My biggest fear for the economy is continued high joblessness, which creates a vicious cycle. People don’t have enough money to buy because they feel that their jobs are precarious and they must save, or they quite literally don’t have enough money. That leads to more layoffs because businesses can’t continue to pay people if there are no customers. Those additional layoffs, of course, lead to greater fears and less capacity to buy. We end up in a double-dip, a return to deep recession. Words: 579