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There has been lots of discussion around whether there will be a double dip recession and whether the US will experience a lost decade. Krugman uses the employment to population data to answer the question. The ratio dropped rapidly during the downturn and it has stopped falling. On the other hand, it has not begun to climb back up to where it was before the crisis hit. He believes that we stopped flirting with a lost decade 3 years ago. We are now in the middle of it.
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