Inexorable (2022) =LINK=
Unemployment recoveries in the US have been inexorable. Between 1948 and 2019, the annual reduction in the unemployment rate during cyclical recoveries was fairly tightly distributed around 0.1 log points per year. The economy seems to have an irresistible force toward restoring full employment. In the aftermath of a recession, unless another crisis intervenes, unemployment continues to glide down. Occasionally, unemployment rises rapidly during an economic crisis, while most of the time, unemployment declines slowly and smoothly at a near-constant proportional rate. We show that similar properties hold for other measures of the US unemployment rate and for the unemployment rates of many other emerging and advanced countries.
I'd be fascinated to get your take on Olga Dies Dreaming, probably the only real literary "hit" book I can remember that is very explicitly about South Brooklyn and Manhattan's inexorable leakage first into downtown BK and now increasingly into Sunset Park et al. Gonzalez's writing about that sense of disorientation is so, so specific to my life (versus "hurr durr gentrification bad, something something Starbucks something something skinny jeans") that I was willing to forgive the book for occasionally being gruesomely didactic. But I think you've probably got exactly the right level of proximity to the subject matter to have an interesting take on it. 041b061a72