Larry Summers Coins a Phrase

US experiencing a 'statistical recovery and a human recession'
By John Johnson,  Newser Staff
Posted Jan 30, 2010 10:58 AM CST
Larry Summers speaks at the Davos summit.   (AP Photo/Virginia Mayo)
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(Newser) – The Wall Street Journal is taken with a phrase uttered by Larry Summers today at the Davos economic summit. The US is experiencing a "statistical recovery and a human recession," said the Obama economic adviser. The phrase "should resonate through much of the industrial world, where high and long-standing unemployment is increasingly becoming a huge domestic political issue," writes Neal Lipschutz.

Summers noted that 1 in 5 US men aged 25 to 54 are out of work and said a "reasonable recovery" would improve the numbers to 1 in 7 or 1 in 8. Any US increase in global integration "has to work for the people" in order to fly politically, Summer said. Lipschutz translates that into a simple message: "Job creation in the US is a crucial issue."

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