Thursday, July 29, 2010

Jobs Machine

"Ain't no hiring. And ain't likely to be any for a good long time."

Harold Meyerson, "End of the jobs machine," The Washington Post, July 28, 2010.

Several things stand out for me about this statement. First, it's untrue. Second, there's no denying the job market is bad and that many have been unemployed for six months or more. Third, business is making money from slashing jobs and other costs, but this is hardly a sustainable business strategy. And fourth, Meyerson has few policy prescriptions to offer except another go at an infrastructure bank and an oblique reference to green business tax credits.

Not a pretty picture, even for an op-ed page.

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