Tuesday, October 6, 2009

Lost jobs may be gone forever

This is quite depressing as our national unemployment rate continues to rise.

(Graph is from the Wall Street Journal.)


Harrison said...

What % do you think is caused by our government involvement in the "stimulus"?

VH said...

Hard to say just yet but I can say that the cost of the stimulus--$787 Billion--will mean higher taxes in the future and business owners and companies of all stripes know this: They will put off hiring people because of the threat of higher taxes. So, all of the public funds aimed at infrastructure for job creation is offset in the private sector by a far larger factor by jobs not created. In my opinion, the stimulus is a drag on growth.

askcherlock said...

There has been a loss of jos, to be sure, but in Pittsburgh where the steel industry left years ago, decisions were made to embrace new industries and to update contemporary trends in the job market. It can be done but people need to be willing to change their mind-sets.