economix.blogs.nytimes.com - 29 days ago
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As a jobless recovery seems to continue to unfold, some call for new government measures to bolster the labor market.
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The New Normal
TPMCafe —
... . The U.S. has worked hard to transform itself into a knowledge economy and companies like Google and Goldman Sachs record record revenues per worker. What if some version of the Pareto Principle begins to apply itself to employment--20% of the workers produce 80% of the GDP? Dan Greenhaus of Miller Taback & Co has the grim reality of our future. ...
How Bad Will It Get?
The Daily Dish | By Andrew Sullivan —
Economix rounds up reaction to the unemployment numbers. Nigel Gault, IHS Global Insight: We expect job declines to continue to ease, since we expect that productivity gains will slow, and firms will find that they must bring in new workers to keep output growing. The extra boost provided by the hiring of Census workers should probably be enough to turn employment growth positive by March.
Dean Baker makes a prediction: The unemployment rate will probably not peak until the spring of next year, at close ...
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