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View Diary: Jobless rate hits 8.2%. 'Missing workers' make the situation look better than it is (349 comments)

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    ...on this subject? I'm very aware of the difference between structural and fiscal (economic) causation, especially as it relates to employment.

    Your first four, bulleted items are--sorry for saying this, but it's true--mostly irrelevant to our current jobless issues. (Aging of population is a total copout of an excuse...the very highest number I've seen attributes half or less of long-term joblessness to an aging population/boomers. Most gov't numbers tell us it's more like 25%-33%.) Resources? Energy and mining sectors are one of the few areas seeing noticeable employment increase. Manufacturing is what's primarily affected by global competition, and it only accounts for small fraction of our GDP; nonetheless, while jobs are lower-paying, manufacturing is modestly coming back. We live in a SERVICE economy. We have a DEMAND problem in this country, plain and simple.

    I would strongly suggest reading recent coverage of this issue by economists Mike Konczal and Paul Krugman, both of whom vehemently support what I'm saying right here. And, by the way, they're the two headline economists that will be appearing at Netroots Nation, in Providence next week!

    "I always thought if you worked hard enough and tried hard enough, things would work out. I was wrong." --Katharine Graham

    by bobswern on Fri Jun 01, 2012 at 01:57:09 PM PDT

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