11/01/2014
Pay attention to the skilled jobs comments here. We have a long time mismatch between the open jobs going begging and the people laided off from old technology manufacturing job who do not seem to have the ability to retrain at this point in their lives and our govt and educational institutions are not offering what is needed..."The recruiting specialist Express Employment Professionals said there are now acute shortages of IT workers, systems analysts, cybersecurity experts, auditors, compliance officers, accountants, automated-mill operators, machine maintenance technicians, and welders, across much of the United States.
"We're getting multiple orders in manufacturing. They're hiring by the tens, twenties and hundreds," said the group’s chief executive Bob Funk.
It is a split-level jobs market. Huge numbers of people have been left on the scrap heap by the effects of the Great Recession, the result of skills wastage and hysteresis, or overtaken by technology. Many of them will never get a job in their lives again. This is a social tragedy – and it is worldwide – but it is not something that the Fed can treat with monetary stimulus.
It is structural, not cyclical, to use the jargon. Janet Yellen has bent over backwards to draw as many of these people as possible back into the system, but she can only do so much...."
Norton West
Photo: Alamy The Third Taper Tantrum has been postponed, perhaps. It has not been averted. The US Federal Reserve is preparing to tighten. Dallas Fe