Re: US unemployment worse than UK, Holland, Norway, Austria, Luxembourg, Lithuania, Cyprus, Japan and Slovenia

A Monkey wrote:
"Gaz" <gazter@xxxxxxx> wrote in
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"A Monkey" <monkey@xxxxxxxxxx> wrote in message
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"Gaz" <gazter@xxxxxxx> wrote in
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"A Monkey" <monkey@xxxxxxxxxx> wrote in message
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"Gaz" <gazter@xxxxxxx> wrote in news:6672pcF2hvmgoU1
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"A Monkey" <monkey@xxxxxxxxxx> wrote in message
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"The nation's job market appears solidly in recession, as
payrolls contracted for the third month in a row, and
unemployment jumped up from 4.8% to 5.1%."

http://www.epi.org/content.cfm/webfeatures_econindicators_jobspict
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200
80404

--
A monkey

"Monkeys are superior to men in this: when a monkey looks into a
mirror, he
sees a monkey."

The US employment market is very flexible, and will bounce back.

Gaz




Not only flexible, but actually depends on periods of unemployment
to allocate labour better. I think it was you who said as much in
another thread.


And is the blueprint for the free movement of labour within the EU.

Gaz

Yes, I suppose so. But I puzzle about the value of upskilling and
not moving versus moving and not necessarily upskilling. For
example, what productivity gains are made when a thousand Polish
plumbers arrive in London, compared to productivity gains when HP
builds a plant in Ohio and trains people to make modems? Or, if
chemicals suffers poor demand for two years, and lots of Germans
move out of their cluster to take different jobs in a different
region? Are they all going to come back when demand picks up? They
could do, I suppose.

It eases unemployment in one area, and facilitates growth in another.
Economic growth can be stunted by a lack of labour supply... It's a
fluid process.

Gaz



But you follow my point? Is physical mobility of labour a good thing
all things being equal? Why is it better than staying at home and
retraining, for example? There's a logic gap somewhere in the theory,
but I'm having trouble defining it.

Retrain for what, and wait for what? When you try to control and direct
economic growth you inhibit it.. Back to the American example. If California
is booming (during a boom, you tend to find the most areas of the economy
are growing, not just one or two sectors), and has a need for skilled, and
unskilled labour, and Ohio is sheding jobs with growing unemployment and
little to no economic growth. People relocating to California is good for
California, and good for those relocating, and good for Ohio as it allows
Ohio to reduce its taxation levels to stimulate growth while not having long
lines of unemployment.

America is a job creating monster of an economy, and has been for a good
fifteen years. Its performance only looks second rate when compared to the
tiger economies.

Gaz


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