Joe Stiglitz Worries That Good Job News May Lead Us In The Wrong Direction

Joe Stiglitz is worried about how we might respond to the recent jobs report. We have heard the "green shoots" story several times in the past, and there are good reasons for being skeptical about the outlook for a return to full employment. He describes the problems that he sees in the economy and he points out how difficult it will be to attain a growth rate that would be required to substantially reduce unemployment. We could become satisfied with a 7% unemployment rate.