No wonder jobs aren't being created. The President listens closely to Jeffrey Immelt, the CEO of corporate welfare recipient large multinational General Electric about jobs policy. So what's GE doing about jobs? Bloomberg reports: General Electric Co.’s health-care unit, the world’s biggest maker of medical-imaging machines, is moving the headquarters of its 115-year-old X-ray business to … Continue reading President Obama’s Jobs Advisor Ships Jobs Overseas.
Gov. Rick Snyder Invokes the Magic Job Genie
The mantra of Republican governors (and in Congress) has been that taxes must be cut in order to create jobs. In previous posts I've dealt with the confusion about how federal level changes income taxes might or might not affect the strength of the economy. Most of the federal tax discussion focuses on individual income taxes. … Continue reading Gov. Rick Snyder Invokes the Magic Job Genie
Is Our High Unemployment Structural?
So following up on my post on the types of unemployment, when unemployment is high, how do we know if it's due to structural or cyclical causes? The answer is important because it tells us what kind of policy actions to take. Do we need stimulus? (addresses cyclical), or do we need job-retraining, relocation, and … Continue reading Is Our High Unemployment Structural?
Employment News, A Muddle – Part 3
This is the follow-up to my first two posts on the January Employment Situation Report and the muddled picture it paints. The first post here recounts how there's some apparent contradiction with the headline unemployment rate declining from 9,4% to 9.0% (yeah!) but only 36,000 new jobs created (not good at all). The second post … Continue reading Employment News, A Muddle – Part 3
Employment News, A Muddle – Part 1
It's first Friday of the month and time for the employment report. And we've got quite a muddle on our hands. The headline numbers, what the media will highlight and the politicians spin, show a big decline in unemployment rate but with a very disappointing number of new jobs. That's conflicted enough, but the muddle … Continue reading Employment News, A Muddle – Part 1
Jobs & Unemployment, Oct 2010
The October 2010 jobs and unemployment report is out this morning. Mark Thoma nails my thoughts pretty well: The BLS reports that unemployment was unchanged in October at 9.6%, and Nonfarm payroll employment increased by 151,000. I've seen some people calling this a strong report. It's certainly better than lower job growth numbers, so it could … Continue reading Jobs & Unemployment, Oct 2010
Back to Work For Me (but not for millions of others!) – May Unemployment Report
Ok, although it looks like I've been slacking off since I haven't posted for quite some weeks, I really have been working. The college has had me slaving away in conference rooms on waaaay too many committees the past few weeks. But it's OK now. A new semester is starting and I'm back to working … Continue reading Back to Work For Me (but not for millions of others!) – May Unemployment Report
Who Broke America’s Job Machine
Who Broke America's Job Machine - Part 1 Who Broke America's Job Machine - Part 2
Where’d my job go dude?
One of the greatest untold economic stories of the last 2-3 decades (there are so many) is how the economy (both US and global) has consolidated. In industry after industry, there's just not the level of competition or entry or innovation that we formerly had. This is significant for many reasons. One, historically the Great … Continue reading Where’d my job go dude?