tag:blogger.com,1999:blog-7400390336523591685.post5575427980326951687..comments2023-08-24T08:56:06.522-05:00Comments on Rhymes With Clown: DeLong Cites Structural FactorsJeremy R. Shownhttp://www.blogger.com/profile/11303377672028774152noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7400390336523591685.post-45981039304752686042010-06-21T11:57:23.914-05:002010-06-21T11:57:23.914-05:00I don't believe anyone is talking about about ...I don't believe anyone is talking about about structural unemployment created by global trade imbalances (although this is an ongoing issue as well). <br /><br /><br />We're speaking of a long term, presistant period of high unemployment creating severe structural unemployment via insufficent demand, low capacity utilization and the relatively low mobility of the labor force. <br /><br />"skilled" workers are no longer skilled at some point. Workers have a difficult time finding jobs when they're homeless. Workers have a difficult time finding jobs when they stop looking for jobs altogether.J. Struppnoreply@blogger.comtag:blogger.com,1999:blog-7400390336523591685.post-65701228960578766472010-06-20T23:32:38.618-05:002010-06-20T23:32:38.618-05:00Structural unemployment...
If some jobs 'leav...Structural unemployment... <br />If some jobs 'leave never to come back,' is this any cause for concern? Who misses the lift operator? <br />More importantly, this seems to implicitly state that if some jobs leave, there will be enduring unemployment, which is implausible. Some specific and exact jobs may never return. This does not mean others will not or cannot be substituted. Remember the Luddites who proclaimed that capital equipment destroyed jobs?<br />There is nothing in the market that prevents jobs from returning. The attempt by fiat to hold wage-rates above their market level and the attempt to prop up various prices (homes) come to mind. Speaking of wage rates... where is my lift operator? Oh thats right, he was priced out of the market. Never to return.Dnoreply@blogger.comtag:blogger.com,1999:blog-7400390336523591685.post-8924375529032731802010-06-15T23:10:53.305-05:002010-06-15T23:10:53.305-05:00Why do you assume that structural unemployment can...Why do you assume that structural unemployment cannot be related the downturn itself?<br /><br />I think you're seeing structural unemployment throughout the country right now and it's directly related to our ongoing crisis.<br /><br />And, as Brad said, it'll get worse the longer we let this thing play out in it's present form.J. Struppnoreply@blogger.comtag:blogger.com,1999:blog-7400390336523591685.post-10838175598024792292010-06-15T21:45:29.158-05:002010-06-15T21:45:29.158-05:00The key word is "developing." Two years ...The key word is "developing." Two years ago we did not have any structural labor market problems. If unemployment kisses 10% for two more years, at the end of them we will have mighty structural labor market problems indeed...bradhttps://www.blogger.com/profile/04548019979157668776noreply@blogger.com