a confluence of articles out today are worth collating and reading in sum. all, as you may have guessed from today's title, are about jobs. or employment. or 'how are we going to get people working again?'
robert samuelson argues, yet again, that we're in a particularly stubborn situation right now. the economy is moving, just... slowly. in a nutshell, there's just not enough demand being created. 'why' is more effusive - the places we can generate demand are easier to pin down: it has to come from a mix of consumer, business and government. right now, it's a triad of paralysis: consumers are saving more (those who have jobs), while cutting back on 'non-essentials''; businesses, responding the weakening demand, are hoarding cash wherever they can and are reluctant to 'anticipate' demand. the government, which should be the spender of last resort (to jump-start demand), is... well, we all know that score. don't bet the bank on the government moving first. (although, really, who will?)
for the jobs that are being created, we're apparently still seeing a discernible bias towards the long-term un-employed. vicious circle indeed.
finally, i found it highly ironic that someone from the legal community is calling for newly minted law school grads to endure... low paying internships!
and on that note, have a happy monday!
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