This news will be cold comfort for the 17 percent of the labor force that is un- or under-employed, but now that the economy has been growing for a year, it's hard to argue that we're not in some sort of recovery. The question is: what do we call it? WSJ's David Wessel gets the ball rolling:
It is certainly a Jobless Recovery. Is it destined to be a Lost Decade like the one Japan suffered? Or perhaps Great Stagnation, a term that has been floating around for a while and was the title of a 2006 MIT Press book on Japan? Or perhaps, as Steve Blitz of Majestic Research, has dubbed it: "The Great Stall."
I see no reason why a weak recovery shouldn't be called a Weakovery, but I've got a particular predilection for portmanteaus. The Great Stall is fine. I also thought of Millennial Muddle, but that sounds a bit like an awkward country western line dance routine. Better ideas?