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great depression*




The National Association of Business Economists’ latest survey has 45% of its members predicting a recession this year—over double the percentage of three months ago.

* Warren Buffett: “I would say, by any commonsense definition, we are in a recession.”

* Economist Edward Yardeni, economist: “I think we are falling into a consumer-led recession.”

If this is a recession, I’ll take it:

Massachusetts workers averaged $1,008 in pay each week, ranking fourth-highest among all states nationally in the second quarter of 2007, according to figures released Tuesday by the Bureau of Labor.

The BLS found employment grew in Massachusetts by 1.2 percent in the quarter, the same as the U.S. … [w]age growth in the Bay State was 4.8 percent …

Among the 328 largest counties in the U.S., average weekly wages in Suffolk County were $1,284, ranking it ninth highest in the country. [emphasis, mine].

If you want to discuss this further, I’ll be at Rocca.

Source: Mass. workers average more than $1,000 per week in pay – Boston Business Journal

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