Don’t Call It a Recession: Macro Edition

You may have been heartened by the fact that the U.S. economy grew by 3.3 percent last quarter. Silly rabbit! Last week, the latest jobless numbers were released, and they ain’t pretty: national unemployment rose from 5.7 percent to 6.1 percent in the last month, and 2.2 million people have lost their jobs in the last twelve months. And according to the Biz Times, Ross Stores, the East Bay discount retailer and always-reliable barometer of hard times,reported a nine percent rise in sales for August. Seems more and more folks are looking to squeeze more out of a penny, even though the macro growth numbers should predict more prosperity for ordinary people.

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