Go East, young man.
Tuesday, August 11, 2009 at 09:42AM
Skeptic in Globalization, Middle Class

Horace Greeley's advice to young men in 1851 to go west was sound because that's where the economy was booming, there was a labor shortage, and opportunities abounded. Today, young Americans are going to the Orient to find those conditions, according to this NYT story. The US has a labor glut, and there is no improvement in sight. The rate of job creation in the US has been falling steadily since 2001 and no longer even keeps up with population growth. Let's do something about this.

Update on Tuesday, September 1, 2009 at 12:05PM by Registered CommenterSkeptic

Andy Harless presents 1992-2008 BLS data showing that the problem isn't job destruction, which has been occurring at normal or even subnormal levels.  The problem is inadequate job creation, which has been trending downward since 2000--even while GDP was growing.

Article originally appeared on realitybase (http://www.realitybase.org/).
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