carlfense Posted June 1, 2012 Share Posted June 1, 2012 http://www.washingtonpost.com/blogs/ezra-klein/post/may-jobs-report-the-labor-market-takes-a-big-step-backward/2012/06/01/gJQAntHn6U_blog.html Not good. Not good at all. Link to comment
krill Posted June 1, 2012 Share Posted June 1, 2012 It's hard to imagine things improving at all with instability in Europe that is evolving on a daily basis, housing flat, consumer spending only trickling up, federal spending flat, and state government spending way down. From a very simple business perspective, if there's no or very little projected increase in demand for goods and services from consumers, and demand from government is expected to continue falling, why would you hire anyone to meet demand that doesn't exist? Due to labor cost flattening and some cases decreasing, and a growing advantage we have with domestic energy, there is an opportunity right now to capitalize on reshoring manufacturing jobs lost to southeast Asia. But there's no political will to do anything besides tax cuts. I hope that even the most fervent supply siders can understand this isn't a long term economic strategy for anything, besides the very wealthy continuing to do well. It's not going to build a single road, waterway, or power plant, or train a single worker. Link to comment
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