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The pile of economic data indicating that the worst of the recession is over just keeps growing. In the past few weeks, the government has reported that businesses last month shed the smallest number of jobs in nearly a year. The savings rate, after rising rapidly, held steady at levels not seen in at least five years. And from April to June, productivity surged to a six-year high.
But the same data also explain why any recovery isn’t going to feel like one anytime soon for millions of Americans. Its existence will be confirmed by statistics, but, over at least the next year, the benefits are unlikely to materialize in the form of higher wages or tax receipts or more jobs.
“It’s going to be a recovery only a statistician can love,” Wells Fargo senior economist Mark Vitner said.
More from Ken Silverstein:
Ratio of the number of cicada eggs per square mile of southern New Jersey to the number of stars in the Milky Way:
Jeffrey Lockwood, University of Wyoming (Laramie)/American Museum of Natural History (N.Y.C.)
A Singaporean company unveiled Kissenger, a pair of plastic lips mounted on a large plastic egg, which transmits real-time interactive kisses to a distant lover. “I am not interested in the sexual uses for it,” said the device’s inventor. “We’ve taken several steps to minimize the creepiness.”
The practice of sexualized eyeball licking was causing conjunctivitis in Japanese sixth graders.
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