Friday, July 22, 2011

Uwe E. Reinhardt: Is There Hope for the Unemployed? -

NYT - Economix
It is an intriguing article but discouraging: Uwe E. Reinhardt: Is There Hope for the Unemployed? The image at the left demonstrates where the growth is and isn't.

Economix definitions: "In the tradable category are manufactured goods, farm products, raw materials and financial, consulting, educational, computing and other technical services. Prominent in the nontradable sector are government, health care, retailing, construction, restaurants and, for the most part, legal services." {Underling added.]

What is disturbing - but not a surprise is that government and health care are the major job creators. And the jobs added in the tradable sector were "primarily in high-value services." Lost were manufacturing jobs (low value) via outsourcing.

The Economix rhetorically asks: can cutting back "on government and health care spending –- add up to a rosy future jobs picture?"