COMMENT
Breadcrumb trail navigation:
By Richard Florida
Published: May 3 2011 23:28 | Last updated: May 3 2011 23:28
America's job market is barely treading water. The rate of unemployment might have dropped below 9 per cent, but jobless claims have risen in recent months. This Friday's non-farm payroll figures are expected to show slower growth than in previous months, while the average time a worker stays unemployed is now 39 weeks "“ the longest on record.
Some commentators "“ such as Christina Romer, who formerly chaired President Barack Obama's council of economic advisers, and economist Paul Krugman "“ maintain that the problem is one of demand. They note unemployment is high across many occupations, and argue for increased investment and aid to local and state governments. Others reply that the problem will fix itself as growth picks up. But a closer look suggests neither analysis is right. Yes, we face a cyclical recession, but there is a structural shift too, which has left many workers high and dry.
You have viewed your allowance of free articles. If you wish to view more, click the button below.
Read Full Article »