There are plenty of reasons why higher education in the US needs to change. There are plenty of good reasons why community colleges in particular deserve greater investment. But the idea of a "skills shortage" is not one of them. It's a zombie idea that's wrong, wrong, wrong.
Two of the more important (U.S.) economic measures were reported in last week and half. Yesterday the October jobs report came in. The week before we got the flash report on 3rd quarter GDP. Both measures were better than feared, not quite as good as consensus expectations of many forecasters, and overall still a disappointment. … Continue reading Update on Current Situation – October Jobs Report and 3rd Qtr GDP
Last week I discussed how I think the President's jobs proposal, the American Jobs Act, will be less than stimulating. I updated it here. I based my analysis on what economists call "back of the envelope" calculations - quick simple estimates of the key variables using rounded numbers. Now the folks at Goldman Sachs research … Continue reading Stimulus Requires More Than Taking Your Foot Off the Brakes
With the all the alleged concern in Washington now from both parties about job creation, there's something that's missing in much of the debate: facts. So let's take a look at some. I really like graphics like the one below. They're complex and take quite some time to read and fully absorb what's there, but … Continue reading Where Are or Were The Jobs?
I wrote a few days ago about how I found the President's American Jobs Act proposal to be less than stimulating and I updated my assessment yesterday. Much of the proposal involves a lot of complex tax credit ideas that are supposed to provide the incentives for businesses to hire. The idea is that if a … Continue reading Businesses (and Micro) Refute the Logic of Jobs Tax Credits
First an update on a post I made a few days ago. When I commented last Monday on President Obama's jobs proposal, I was less than excited. Having read more detail of the proposal, I should correct some statements I made. I incorrectly left the impression that the payroll tax (Social Security/Medicare tax) cut that … Continue reading UPDATE on President Obama’s Jobs Proposal – Better, But Still Weak
Blogging time has been in short supply lately. To compound things, I've had a bunch of inter-woven ideas bouncing around in my head that I want to explain, but I've been struggling to figure out how to do it. I've been stuck in the "can't explain this until I explain that which in turn needs … Continue reading Politics and Job-Creation Policies – Disagreements and The Theories Behind Them
After over a year of Presidential and Congressional debate and sparring about how to reduce spending, cut deficits, and limit debts, the politicians in Washington have finally taken notice that we have a "jobs crisis". Specifically, we simply aren't creating new employment fast enough to reduce our high levels of unemployment. Timidity wrapped in strong … Continue reading The Obama Jobs Proposal Is Less Than Stimulating
Nicholas Johnson at the Center on Budget and Policy Studies explains how state and local governments are cutting jobs and how a majority of those jobs lost are education jobs. September 2, 2011 at 1:24 pm Today’s jobs report shows that in August, cuts by states and local governments — especially school districts — wiped … Continue reading State and Local Job Cuts are Accelerating, Making the Economy Worse and Cutting Education
This being the first Friday of the month, the latest U.S. employment report was released this morning. Not good news. In a nutshell: no new net jobs created and the unemployment rate holds steady at 9.1%. It disappointed even the weak expectations of forecasters. The news continues to show an economy that has stalled without … Continue reading Jobs And Unemployment Report For August 2011 – More Bad News, More Signs Economy Is Stalled, No Net New Jobs