UNDERSTANDING THE JOBLESS RECOVERY? Truck and Barter sees the usual reallocation of resources from less-productive to more-productive uses. David Leonhardt of the New York Times notes, "The longest hiring slump in more than 60 years finally appears to be ending." (The article continues to see the decline in manufacturing jobs as a consequence of foreign competition, not of economic development, but we can't expect everybody to learn everything at once.) Apparently, being a high level official at a railroad is no guarantee that you can express yourself well, as Cal Pundit discovers, which leads into the possibility that a recovery does not have to mean an immediate increase in employment, particularly with the benefits packages that are part of full-time employment. I was talking with a colleague this morning about second-sourcing, overtime, and other fun topics, and it occurred to me that one explanation of the "jobless recovery" is here.