Is the U.S. Facing a Jobs Crisis?

Recently reported employment data suggests that there are now as many unfilled job openings (6.55 million), as there are unemployed Americans (6.59 million).  This is the narrowest gap, between available jobs and those seeking jobs, in nearly 20 years of record keeping.  At the same time, workforce participation rates remain near record lows. This is … Continued

Why is Pay Lagging?

With the unemployment rate at approximately 4%, the lowest since 2000, economists have been surprised by the slow growth in paychecks.  Historically, when that few people are unemployed, companies have had to pay up to attract workers. Clearly, anecdotal evidence and government reports suggest that the U.S. is in a tight job market, yet pay … Continued

New Job Multiplication

It is generally accepted by economists that for every new job, some additional jobs are a natural consequence.  However, not all new jobs are created equal. The oil industry has been advertising that every new energy job creates two more positions in the economy. Volvo Car Group’s new factory near Charleston SC, may do much … Continued