From the Worcester Telegram and Gazette: WORCESTER — Economist and Bloomberg TV analyst Richard Yamarone said the nation is recovering from its economic downturn but remains constrained by a poor job market…
Mr. Yamarone told his audience this morning, members of the Worcester Regional Chamber of Commerce’s Breakfast Club, he expects a recovery that, if plotted on a chart, would resemble the mathematics symbol for a square root: a sharp drop, a sharp rise and then a prolonged flat line.
The economy “falls, it rises and it comes back just barely into positive territory, where it levels off for a period of time,” he said.
A significant problem for the economy, Mr. Yamarone said, is the continuing loss of jobs.
“The more realistic view is we’re not creating jobs,” he said. “We’re still hemorrhaging jobs at a rate of 250,000 jobs a month, and the bad thing is we’re still hemorrhaging jobs 21 months into the recession.”
