The Corner

Oh, for Those Days of the Jobless Recovery

I remember once between 2004–6, when unemployment ranged from 5.5 to 4.6, the charge of a “jobless recovery,” both in the 2004 campaign and afterwards, was common. I think the message then was that a strong stock market, low inflation, low interest, and impressive quarterly GDP growth rates were not impressive, given the stagnation in job creation that left us with a stubborn unemployment rate that averaged around 5%. Given today’s news, most would like a return to a 2004–5-style jobless recovery.

Victor Davis Hanson — NRO contributor Victor Davis Hanson is a senior fellow at the Hoover Institution and the author, most recently, of The Second World Wars: How the First Global Conflict Was Fought and Won.

Most Popular

Politics & Policy

We’ll Regret This

Mitch McConnell says the president will sign the budget deal and he will also declare a national emergency to build the wall, as I expected. We’ll see the legal justifications he uses, but as a political and constitutional matter this is a long-term disaster. Oh, it might be good for Trump according to the ... Read More
Culture

Jussie Smollett Changes His Story Again

The actor Jussie Smollett continues to talk about the alleged January 29 attack on him during a frigid night in Chicago, giving Good Morning America his fullest description yet of his claims. It differs substantially from what he told police initially after the alleged assault. Smollett told GMA that the ... Read More
White House

The Failure of the Deal

EDITOR’S NOTE: The following is Jonah Goldberg’s weekly “news”letter, the G-File. Subscribe here to get the G-File delivered to your inbox on Fridays. Dear Reader (But especially Sammie), I had my say on the emergency declaration yesterday, and I’m sure I’ll have to say it all again not very far ... Read More