Jobless Recovery Watch: Matthew Yglesias Reads Ed Leamer

Jeebus save us, somebody save us:

Matthew Yglesias » The Looming Structural Employment Disaster: Ed Leamer, director of the UCLA’s Anderson Forecast, summarizes the latest:

The forecast for GDP growth this year is 3.4 percent, followed by 2.4 percent in 2011 and 2.8 percent in 2012, well below the 5.0 percent growth of previous recoveries and even a bit below the 3.0 percent long-term normal growth. With this weak economic growth comes a weak labor market, and unemployment...