bostonbubble.com

[BostonITer]

http://www.washingtonpost.com/wp-dyn/content/article/2009/11/06/AR2009110601900.html

[admin]

The latest Economist has a take on this too:

http://www.economist.com/opinion/displayStory.cfm?story_id=14803179

As is usually the case, I'd agree with The Economist. We need to be careful that attempts to address unemployment don't ossify yesterday's job structure.

- admin

[Boston ITer]

Job creation was once a natural function of a production based economy. I believe it is less so in an information-based, financial economy outside of let's say specialties like IT-Quant/finance, accounting/taxes, or trading/fund management. So the problem then is a type of two tier work situation where the in-crowd has near full employment whereas the out-crowd experiences chronic unemployment, outside of govt/healthcare. Perhaps Europe (i.e. France) was already in this type of situation, long before the downturn where its white collar job market failed to assimilate newcomers from other Mediterranean countries and so the in-crowd had work while everyone else, including the younger generations, had chronically underemployment outside of restaurants and tourist businesses.