[lbo-talk] good news! more job declines coming!!

Doug Henwood dhenwood at panix.com
Tue Sep 30 11:53:43 PDT 2003


Jon Johanning wrote:


>Besides the economic conditions (which I think, though I'm not sure,
>were about the same in the early '70s as in the late '60s),

It wasn't until the 1974-5 recession that people got scared, and started thinking the Golden Age was over. I remember it well because that's when I was graduating from college. I started in 1971 and everyone assumed prosperity was our birthright. Four years later, the unemployment rate was 9% and the job market sucked. People were much less likely to take risks; instead, getting a job was the priority.

Doug



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