Comments on: Understanding the painfully slow jobs recovery http://blogs.reuters.com/felix-salmon/2013/05/03/understanding-the-painfully-slow-jobs-recovery/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Dollared http://blogs.reuters.com/felix-salmon/2013/05/03/understanding-the-painfully-slow-jobs-recovery/comment-page-1/#comment-46929 Wed, 08 May 2013 07:43:49 +0000 http://blogs.reuters.com/felix-salmon/?p=21588#comment-46929 It is really disappointing to see all this commentary and no mention of 1) China and 2) predatory capitalism. There are two causes of the declining role of employment in our economy: outsourcing to lower wage geographies and a persistent culture of cutting all FTEs from corporations. The Great Recession merely accelerated these trends and legitimated massive cost cutting across all corporations in the US.

There really is no end to these trends. We would need a complete reengineering of the motivations of businesses and governmental policies to even slow down these trends. And note that not a single politician is wlling to tackle either one of these monsters.

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By: GotDOCG http://blogs.reuters.com/felix-salmon/2013/05/03/understanding-the-painfully-slow-jobs-recovery/comment-page-1/#comment-46914 Tue, 07 May 2013 04:57:15 +0000 http://blogs.reuters.com/felix-salmon/?p=21588#comment-46914 Housing is directly responsible for over 22% of every domestic job…Despite what the “experts” teel us, housing is not in a real true recovery… currently over 40% of every sale is to investors of REO’s and short sales… not to mention the effect that bulk sales of notes and homes are having on the market… The simple fact is that housing IS NOT in recovery… the price increases are not “real”, with the actions of an uncaring financial sector fueling another bubble… simple fact is that we require a solid stable housing industry to provide the jobs in construction… jobs that do not require technical retraining… This will not, and cannot occur without an effective Mark2Market loan modification plan in place, keeping people in their homes and instilling hope for the future… otherwise wait until 2022 for a stable housing sector…

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By: GotDOCG http://blogs.reuters.com/felix-salmon/2013/05/03/understanding-the-painfully-slow-jobs-recovery/comment-page-1/#comment-46913 Tue, 07 May 2013 04:57:08 +0000 http://blogs.reuters.com/felix-salmon/?p=21588#comment-46913 Housing is directly responsible for over 22% of every domestic job…Despite what the “experts” teel us, housing is not in a real true recovery… currently over 40% of every sale is to investors of REO’s and short sales… not to mention the effect that bulk sales of notes and homes are having on the market… The simple fact is that housing IS NOT in recovery… the price increases are not “real”, with the actions of an uncaring financial sector fueling another bubble… simple fact is that we require a solid stable housing industry to provide the jobs in construction… jobs that do not require technical retraining… This will not, and cannot occur without an effective Mark2Market loan modification plan in place, keeping people in their homes and instilling hope for the future… otherwise wait until 2022 for a stable housing sector…

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By: MaysonLancaster http://blogs.reuters.com/felix-salmon/2013/05/03/understanding-the-painfully-slow-jobs-recovery/comment-page-1/#comment-46900 Sun, 05 May 2013 21:26:27 +0000 http://blogs.reuters.com/felix-salmon/?p=21588#comment-46900 Of course, there’s also the fact that in both Europe and the USA fiscal policy has been contractionary (note that government employment in the US has fallen almost a million), while monetary policy has been mostly impotent, given the liquidity trap. It’s at least as much cyclical as structural, although the austerians are doing their best to *make* it structural.

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By: AZreb http://blogs.reuters.com/felix-salmon/2013/05/03/understanding-the-painfully-slow-jobs-recovery/comment-page-1/#comment-46897 Sun, 05 May 2013 13:03:39 +0000 http://blogs.reuters.com/felix-salmon/?p=21588#comment-46897 “….from manufacturing to a service sector economy” – and the service sector jobs are not a gateway to middle-class jobs paying $13+ per hour. So we will have an economy based on minimum wage jobs – and that doesn’t sound like progress.

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By: TFF http://blogs.reuters.com/felix-salmon/2013/05/03/understanding-the-painfully-slow-jobs-recovery/comment-page-1/#comment-46893 Sun, 05 May 2013 00:42:58 +0000 http://blogs.reuters.com/felix-salmon/?p=21588#comment-46893 I’m still waiting for the “fiscal Clifford” to blow up the economy like Felix promised. Seems we’ve been over that cliff, taken one or two small steps closer to fiscal sustainability, and (surprise!) the economy isn’t any more stagnant than before.

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By: theblamee http://blogs.reuters.com/felix-salmon/2013/05/03/understanding-the-painfully-slow-jobs-recovery/comment-page-1/#comment-46890 Sat, 04 May 2013 13:06:13 +0000 http://blogs.reuters.com/felix-salmon/?p=21588#comment-46890 Over-coming this particular economic crisis is being slowed by the cumulative effects 50-years of actions by each preceding administration has had upon layering their preferred outcomes upon the next economic crisis. You have to overcome the inertia of lies and liars before an economic recovery can even begin anymore. And the next economic crisis will be even worse than the one that came before it. Too bad that things have gotten so out of whack that we are not even ready to talk about lives being lost, or jobs, just the changing nature of work in the disappearing work place.

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By: crocodilechuck http://blogs.reuters.com/felix-salmon/2013/05/03/understanding-the-painfully-slow-jobs-recovery/comment-page-1/#comment-46886 Fri, 03 May 2013 21:15:24 +0000 http://blogs.reuters.com/felix-salmon/?p=21588#comment-46886 “A question to ask: “To what degree did a ‘false buildup’ of jobs/GDP/etc before the crises occur, and to what degree does that make the current cirumstance look worse than it is?”

I’ll never forget reading that in the USA from 2002-’06 the two fastest growing occupations were mortgage bankers and hairdressers.

Want more jobs and GDP growth? Shrink the banking sector. Meredith Whitney in ’08 was saying that it needed to return to where it was in 1998. It hasn’t.

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By: BryanWillman http://blogs.reuters.com/felix-salmon/2013/05/03/understanding-the-painfully-slow-jobs-recovery/comment-page-1/#comment-46884 Fri, 03 May 2013 19:23:47 +0000 http://blogs.reuters.com/felix-salmon/?p=21588#comment-46884 A question to ask: “To what degree did a ‘false buildup’ of jobs/GDP/etc before the crises occur, and to what degree does that make the current cirumstance look worse than it is?”
Talking about when we’ll be back to an employment level consistent with what was still a bubble might might be an assured disappointment.

The other issue of course is that stimulus cannot go on forever, and there is serious honest disagreement about whether it does any lasting good anyway. Which may mean that in reality the economy just has to “tough this out” like a very bad hangover. Not fair at all to the people who weren’t “drunk” – amounts to getting a hangover from someone else’s binge.

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By: Foppe http://blogs.reuters.com/felix-salmon/2013/05/03/understanding-the-painfully-slow-jobs-recovery/comment-page-1/#comment-46883 Fri, 03 May 2013 18:41:39 +0000 http://blogs.reuters.com/felix-salmon/?p=21588#comment-46883 “recoveries from financial crises are much slower than recoveries from other crises.”

Of course they are.. financial crises are only termed such when they’ve become/been allowed to become sufficiently big; and since they result from malinvestment, and since elites always insist on the sanctity of debt contracts, the aftermath is always one of stagnation, even when you don’t have to deal with issues resulting from unmaintainable specialization into certain forms of wealth production (homes, mostly, as they are most easily made money off of by the FIRE industry)..

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