Monday, June 13, 2011

Jobs Jobs Jobs Where are they?

Nobel Laureate Michael Spence,has looked at which companies created jobs AT HOME from 1990 till 2008, a period of extreme globalization. the results are startling. The companies that did business in global markets, including manufactures, banking, exporting, energy firms, and financial services, contributed almost nothing to overall American Job Growth!!!!
The firms that did contribute to job growth during this period were mostly in the U.S. market, immune to global competition, health care, retailers, hotels, and government agencies. Sadly these jobs in these sectors are low paying and low skilled than those other jobs.
Clearly it's a myth that businesses are waiting for better economic times and regularty "certainty" to invest back home.
The myth of mobilty that if you you build jobs people will come because of two career families will not work also. Common sense tells me there is a mis match in the jobs market, jobs open but the available labor pool does not have the qualifications.
We need a industrial policy to keep jobs in some high value sectors at home. What that policy is and who articulates that in the coming months before the election will win.


Jim G. said...

Jobs will be created if the left gets out of the way. We had a policy, it was called the "stimulus" it wrecked the economy.

Let people be free, jobs will be created.

Baxter said...

Herbert Hoover (R) couldn't have said it better himself.