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Job losses constant, job gains plunge via Innovation - America Has A Structural Problem
Intel founder Andy Grove wrote an excellent piece busting some myths on innovation, job creation, emerging markets and the role of manufacturing in a developed economy.
Today, manufacturing employment in the U.S. computer industry is about 166,000 — lower than it was before the first personal computer, the MITS Altair 2800, was assembled in 1975. Meanwhile, a very effective computer-manufacturing industry has emerged in Asia, employing about 1.5 million workers — factory employees, engineers and managers.
Job losses in current recession vs previous recessions via Roubini Global Economics - RGE Monitor — U.S. EconoMonitor
No net job creation in the 2000s vs previous decades job growth of 20%-40% via Roubini Global Economics - RGE Monitor — U.S. EconoMonitor
I love correlations via CalculatedRisk Housing Starts and the Unemployment Rate (image)
Unemployment data compared to previous post-WW2 recessions.
