] Over the last two weeks, nobody has been paying much
] attention to economic news; even the ups and downs of the
] Dow have reflected reports from the battlefield, not the
] boardroom. But the economic news is quite worrying.
] Indeed, the latest readings suggest that our recovery,
] such as it is, may be stalling.
]
] Actually, the recovery can't officially stall since it
] hasn't officially begun: the committee that rules on such
] matters still hasn't declared the recession that began in
] March 2001 over. There are good reasons for the
] committee's hesitation: while G.D.P. started growing in
] late 2001, the job situation -- which is what matters
] to most people -- has more or less steadily worsened.
] In particular, fewer people are working now than were
] employed a year ago. Since the working-age population
] continues to rise, jobs have become steadily harder to
] find.