Is the economy rebounding — or flailing?

Twin dangers to the economy point to more pain ahead, said Jeanna Smialek at The New York Times. A new wave of layoffs from massive employers like Disney, United and American Airlines, Allstate, and Shell and Marathon Oil suggest that the rebound “may begin to feel more like the grinding healing process” in the decade following the Great Recession. That’s because “companies that are limping along this far into the crisis” — particularly high-interaction businesses such as restaurants and theaters — are “increasingly unlikely to ever recall their employees,” turning temporary layoffs into permanent reductions.


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