GDP Growth Not HIgh Enough In 2011 to Reduce Unemployment

link here to article

Mark Thoma links us to an article that provides more bad news for the economy. GDP is a measure of spending but the BEA also uses a more reliable measure of growth based on income (GDP I). That measure came in at 1.2% compared to 1.8% for Q1. Okun's law tells us the GDP growth has to exceed 3% before unemployment is reduced.

There are other ways to increase employment without focusing on GDP growth. It may be time to look at alternatives to growth as the solution to employment problems. That makes sense particularly when sustainability is a global issue.