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Unemployment is high and rising. But if the recession is over, won't employment start to rise? The quick answer is no. We look deeper into the Statistical Recovery and find yet more reasons to be concerned about near-term deflation. This week we consider all things unemployment and ponder the need to create at least 15 million jobs in the next five years to return to a full-employment economy - and the implications for both the US and world economies if we don't. Economic is often about what we can clearly see, and yet it is understanding what we can't see that gives us true insight. We start with a collection of facts that we can see and then begin a thought exercise to find the implications.
An interesting read, the whole thing. I'm not an economist, but it does make sense.
Goodness, aren't you the same folks who screamed, "let'em fail" just a few months ago?
Yes, unemployment is going to be a lingering problem in this recovery, but you and I both know that you aren't even going to endorse any plan that would sufficiently do anything about it.
I think this time it will be worse. Many of those jobs got offshored and will not be coming back.
Brand new jobs will need to be created.
Americans got layed off but someone in a third world country is now doing that very job so the job is still there and still has an employee attached to it.
And before you ask, delu, yes, I DID read the whole thing!
That's funny.
Yup - This admin is not business friendly. It has created much risk, instability and anxiety for the business community. Obama is talking about changing tax codes and such. Wants smalll businesses to pay for health care of its employees, etc. Wants increased regulations and more gov't interference. This is not a climate that businesses and enterprenuers want to enter. Period.
Goodness, aren't you the same folks who screamed, "let'em fail" just a few months ago?
Yes, unemployment is going to be a lingering problem in this recovery, but you and I both know that you aren't even going to endorse any plan that would sufficiently do anything about it.
What YOU know and what I know will never cross paths. Did I really write "let'em fail?" just a few months ago, or are you putting words in my mouth, so to speak. What do YOU have to offer, dudette?
Americans got layed off but someone in a third world country is now doing that very job so the job is still there and still has an employee attached to it.
You are talking two different things.
The outsourcing of American jobs to offshore overseas lower cost centers has been occuring for decades (which I could agrue has some to do with unions and minimal wage increases). And. The global recession. You really cannot connect the two. Given we have lost jobs to outsourcing, but it was not the cause of the global recession. Global port calls for international shipping is down by some 70-75%. There was a post about all the ghost cargo ships sitting idle off of singapore. Not only Americans lost jobs. And the jobs we lost, were not just moved overseas.
The outsourcing of American jobs to offshore overseas lower cost centers has been occuring for decades (which I could agrue has some to do with unions and minimal wage increases). And. The global recession. You really cannot connect the two.
The global recession did not occur because of the American outsourcing. Global shipping, oceananic shipping, is down 75%. Many countries lost jobs, not just USA.
It did escalate though with this recession. Even more jobs and factories relocated to foreign soil. This is beyond the normal offshoring that was going on. It would be interesting to see how many of those mass firings this year were offshored vs just a company cutting back.
Many companies escalated their offshoring work to cut operating expenses to offset falling revenue so they could still report "glowing" quarterly earnings. False sense of company stability and consumer activity.
India is in hiring mode. They are gaining jobs currently.
India Inc. Bounces Back & Starts Hiring
India most optimistic on Q4 hiring: Report - India Business - Business - NEWS - The Times of India (http://timesofindia.indiatimes.com/news/business/india-business/India-most-optimistic-on-Q4-hiring-Report/articleshow/4985792.cms - broken link)
I read another article which I can't find about the top 10 companies currently hiring in India..I recall Oracle in that list among a few other US IT shops.
Meanwhile, on this side of the pond folks are getting layed off.
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