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View Diary: America's Bleak Jobs Outlook (9 comments)

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  •  The problem is not structural (0+ / 0-)

    There is almost no evidence to support the idea that we have a structural unemployment problem and mountains of evidence suggesting we have a demand-based unemployment problem.

    If the problem with labor really was structural, you'd be seeing skyrocketing wages among the industries with positions that are particularly hard to fill. We've been seeing the opposite of that--as the article notes, most jobs created in the "recovery" are part-time, minimum wage jobs in service or retail. All that points to the unemployment problem being equal parts lack of demand and the divorce of productivity from wages, which each help reinforce the other.

    The problem is that the feral rich are using massive long-term unemployment--with the aid of the politicians they bought--to correct the "error" of the erosion of traditional class systems in the post-war period.

    Every human being must be viewed according to what it is good for; for none of us, no, not one, is perfect; and were we to love none who had imperfections, this world would be a desert for our love.

    by Daniel Roche on Wed Apr 24, 2013 at 11:40:36 PM PDT

    [ Parent ]

    •  "The" problem? There are multiple problems, no? (0+ / 0-)

      There are, all resolvable but they all require aggressive government action which is an unreasonable expectation. The deadly concentration of wealth, wages (lower demand), and political leverage/corruption is severe, as are the overall failures of governments in the developed economies to govern, as are deleveraging, globalization, global contraction (lower demand), technology, and productivity.  Increasing demand in the US middle class is not a solution but a stimulation. The economy can be bolstered with more capital flowing into the middle class but not fixed. A slow slog v. a slower slog seem to be the choices, especially without governance, for the next decade or  more.

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