Posts Tagged ‘Employment’
We have turned good workers into criminals and turned criminals into bad workers, losing on both ends of the deal.
So writes Alex Tabarrok of Marginal Revolution, citing a case in Georgia where Latino migrant workers were banned from the cucumber harvest to be replaced by offenders on probation. The swap did not go so well.
The first batch of probationers started work last week at a farm owned by Dick Minor, president of the Georgia Fruit and Vegetable Growers Association… On the first two days, all the probationers quit by mid-afternoon.
In his current Investment Outlook, bond king, Bill Gross, takes the public, the political class and the media to task for focusing on the wrong crisis.
The U.S. is untrained, underinvested and overindebted relative to our global competitors.
And Gross cites as disparate a group as GE’s Jeff Immelt, Newsweek’s Fareed Zakaria and not-unexpectedly economist Paul Krugman, who all agree that tackling the deficit should come second after a concentrated effort to rekindle job growth in the US. Gross ends with a quote from the none-too-liberal, former Merrill Lynch chief economist David Rosenberg:
I’d have a shovel in the hands of the long-term unemployed from 8AM to noon, and from 1PM to 5PM, I’d have them studying algebra, physics and geometry.
Unemployment has dropped to 8.1% in the Midwest (vs. 10.4% in the West) on the back of an economic rebound in farming , and (surprise) manufacturing.
The rebounding District [Midwest] economy is being pulled along by its two hallmark goods industries—agriculture and, especially, manufacturing. The manufacturing output recovery has far exceeded overall output growth in both the nation and the District.