Monday, February 15, 2010

Then What?

(click on image to enlarge)

An interesting paper which helps explain why so many dairy farmers a hanging on instead of getting a job:

On page 13:

At the end of calendar year 2009, as the national economy was recovering from the recession of 2007-2009, workers in different segments of the income distribution clearly found themselves in radically different labor market conditions. A true labor market depression faced in the bottom two deciles of the income distribution, a deep labor market recession prevailed among those in the middle of the distribution, and close to a full employment environment prevailed at the top. There was no labor market recession for America’s affluent.

Once you get to "$150,000 or more" strata, you have no trouble finding a job - all things being equal - which they never are.

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