Thursday, February 25, 2010

A fourth of all jobs--gone, baby, gone


Recession has made some things clear: Many of the jobs lost are not coming back, people will not be rehired, the jobs may not even exist.

Phil Izzo writes about this in the WSJ, Feb 12, 2010. About a quarter of the 8.4 million jobs lost since this began won’t be recreated.

Other industries will have to take up the slack—and workers will have to adapt.

More tasks have been automated. Many jobs went to the lowest bidder—overseas. Companies have learned to do more with fewer, that less means more profit.

Only 133,000 jobs a month will be added, some economists say—better than losses, but slow going.

We need to see 200,000 a month added to make progress.

Ah, darn, could you cry?

Well, don’t—all you need is one job, not a fixed economy.

Think of it that way--one isn't that big a number.

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