This morning's U.S. employment report sucked.
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If the job market doesn't recover soon, we're in trouble.
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I wonder if an awareness of the seriousness of the situation is behind the greater-productivity-via-tech-produces-growth-without-hiring spin we're now seeing in the financial press.
When the market surges and news outlets talk about recovery, yet millions are still unemployed and see no end in sight to their jobless state some sort of story must be offered up for public consumption.
Has anyone done work tracking the amount of jobs that would have been generated in manufacturing and professional services if H1b and other 'guest workers' along with offshore outsourcing weren't the rage?
Perhaps the ability of American capital to now outsource nearly the full range of plant and office activities to low cost, high skill markets provides a more servicable explanation for "jobless recovery" than the supposed technology/productivity explosion.
If that's the case than "trouble" only begins to describe what we're in.
DRM
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