Jobs and Skills and Zombies – NYTimes.com
Paul Krugman, on why CEO’s lament the “skills gap” created by education and by workers themselves, rather than their own wage and hiring policies in explaining persistent unemployment.
“Think about what we would expect to find if there really were a skills shortage. Above all, we should see workers with the right skills doing well, while only those without those skills are doing badly. We don’t.
Yes, workers with a lot of formal education have lower unemployment than those with less, but that’s always true, in good times and bad. The crucial point is that unemployment remains much higher among workers at all education levels than it was before the financial crisis. The same is true across occupations: workers in every major category are doing worse than they were in 2007.”