Europe’s Youth Employment Is Bad, But Not As Bad As We’re Told

spain euro

ardly a day goes by without a new headline screaming about the scandal of youth unemployment, which has been pinned at the outrageous levels of 50 percent in Spain and Greece and above 20 percent in the eurozone. There’s just one problem – those numbers are derived from a flawed methodology, which misrepresents the true […]

The Debt Ceiling Crisis: Let’s Get Personal

circus-social-classes-wide

Walter Brasch: Since you like hunting, and they like hunting, your banker friends will let you buy all the guns and ammunition you want. But, they can’t help you on your health bills, or even lower the insurance premiums and co-pays. And, they can’t do much for that inflated mortgage payment. Or to help you find another job.

The American Jobs Emergency Requires Action

economy

Robert Reich: Not only do we need extended unemployment benefits. We need a new WPA, modeled after the WPA of the Great Depression, to put jobless Americans to work. We need a national infrastructure bank to rebuild our crumbling highways and water and sewer systems, thereby putting additional people back to work.

The Future of American Jobs

Jobs

Robert Reich: The Great Recession has accelerated a structural shift in the economy that had been slowly building for years. Companies have used the downturn to aggressively trim payrolls, making cuts they’ve been reluctant to make before. Outsourcing abroad has increased dramatically. Companies have discovered that new software and computer technologies have made many workers in Asia and Latin America almost as productive as Americans, and that the Internet allows far more work to be efficiently moved to another country without loss of control.

The New Employment Numbers: Things are Worsening More Slowly

unemployed

So let’s be grateful that the economy is getting worse more slowly than it was. But don’t be lured into thinking we’re ever going back to where we were. Most of the jobs that have been lost are never coming back.

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