"Jobless recovery" is an oxymoron

The pundits are saying the Democrats won't be able to run on the economy, because apparently, the recession is over and the economy is now booming. They point to the rise in the Dow, and the gains in corporate profits and productivity, and the (modest) reduction in the unemployment rate.

Outside of Wall Street, it hardly seems like boom times. Harold Meyerson in the Washington Post explains that the Bush recovery differs from all other post-WWII recoveries, in that the turnaround is disproportionately in corporate profits, but that workers haven't benefited. Globalization of labor and Bush economic policies are contributing to this. The lack of wage growth is charted here. Democrats should hold the Bush Administration responsible for the "jobless recovery."