2010-08-10 We Are The Network: Why is the “Economic Recovery” of 2010 Jobless?
Aug 9, 2010 – added links:
NY Time Op-Ed by Timothy Geithner “Welcome to the Recovery”
CS Monitor by Bill Bonner “Welcome to the Recovery? No, Mr. Geithner, the Twilight Zone.”
Human Capital League by Gautam Ghosh “10 Ways Work will Change over the Next Decade”
Why is the “Economic Recovery” of 2010 Jobless?
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This Tuesday, Aug 10th at the Epoch Institute in Second Life™
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This Week’s Topic
Why is the “Economic Recovery” of 2010 Jobless?
The “economic recovery” of 2010 has been good for Wall Street and the financial markets, and essentially non-existent for jobs, housing valuations, foreclosure and personal bankruptcy rates. Unlike recent recessions, where job recovery lagged, but could be measured in months, predictions suggest that a return to previous unemployment levels will likely take years.
Why is this recovery jobless in a long-term, persistent fashion that has not been seen for decades? Pointing at one symptom or cause at a time makes good press. It makes good politics. It is also a highly simplistic view of the problem .
What are the key trends and drivers for the jobless nature of this recovery? What part of the jobless nature of the recovery is due to offshoring, technology, global wage and cost inequity, politics, the behavior of financial institutions or are the key drivers elsewhere entirely? Is the current state of the job market an indication of a very slow recovery, or of the start of a double-dip? Will the jobs lost be recovered, or is job recovery based on creation of new job markets (that themselves will not be supplanted by technology)?
Some commentary points to the elimination of middle class job opportunities as an outcome of current trends. If that is the case, will the restructuring stop there, or is this the start of a continuing erosion that will wipe out jobs at ever-higher levels of the work complexity and skills pyramid, until only a small fraction of careers are left?
Join us Tuesday at 12PM noon U.S. Pacific / 3pm U.S. Eastern time for an interactive discussion, and thanks for being part of “We Are The Network”!
If you do not have a Second Life account and would like a quick start to attend the session, please contact me for more information.
Best regards,
Joel
The Massachusetts