Ohio money manager Dock David Treece says the U.S. has a great chance to revive its long-fading factory sector. Overseas wage costs have risen, you've got quality and IP issues to deal with and plenty of companies have received black PR eyes. Treece rightly says workforce training is needed, but there is one big issue he underplays a bit.
For the most part the jobs that left this country were in manufacturing, and not necessarily because they were cheaper abroad. Many Americans simply haven’t wanted to get their hands dirty. Having been convinced that the US is the most educated, developed nation in the world, many feel that a college degree entitles them to a $100,000 per year desk job.
Sep 30, 2010 11:08 AM
Ever feel like whipping out statistics on the state of the U.S. factory sector? Like how many cell phones are made in here? (Hint, as many as are made in your kitchen.) Here's the place to find them. HT: Chip Hanlon, who rightly points out that a little more perspective would be helpful.
Sep 28, 2010 12:03 PM
American General Life & Accident wants to add 4,000 salespeople to its staff of about 5,000 in the coming years and is kicking off a national recruiting drive this month. The traveling job fair will make a stop at the company's 800-person Brentwood offices on the 29th.
Sep 15, 2010 8:11 AM
Tom Lindmark points us to an interesting San Fran Fed paper on the potential impact of the labor force participation rate on the job market in the coming years. Whichever way it moves, it looks likely to have massive economic policy implications.
I think that the outcome of the November elections will make little difference. If unemployment remains persistently high, and this study would seem to indicate that’s a strong possibility, then both Democrats and Republicans are going to boiling in the same pot. If they are then you can throw ideology out the window as they all seek survival.
Sep 14, 2010 2:49 PM
NPR's Marketplace Morning Report stopped by in The Gulch recently to talk to two young architects caught in the middle of the real estate bust.
Both Atcher and Gibson have been hired back as freelancers by their old firm. They get about half as much work as they used to. Unemployment covers the off weeks. They say they've gotten so used to their on-again, off-again jobs. It's become "what they do."
Sep 10, 2010 11:00 AM
Economics professor Mark Perry says comparisons between today's job market and that of the Great Depression are wide of the mark. Many of the commenters say Perry's use of statistics misses the mark. Says one:
When you try to compare two periods that used different methods to measure unemployment there is a credibility issue that has to be addressed. If you look at how many people are unemployed as a percentage of the total population you will find that today's rates are not all that different than they were in the 1930s.
Sep 10, 2010 8:03 AM
POSTDATA: WARRANTY DEEDS