Bernanke is perplexed as to how come the unemployment rate is 57% higher than normal, sin spite of the trillions forked over in bailaouts and subsidies. In any event, if things do not get better, he has a buck to pass:
If structural factors are the predominant explanation for the increase in long-term unemployment, it will become even more important to take the steps needed to ensure that workers are able to obtain the skills needed to meet the demands of our rapidly changing economy.
You mean retrain java-coders to become roofers, and roofers to become java-coders? How about get rid of both unemployment checks and minimum wage laws, and watch the market clear of unemployment as people reorganize into productive pursuits?
If structural factors are the predominant explanation for the increase in long-term unemployment, it will become even more important to take the steps needed to ensure that workers are able to obtain the skills needed to meet the demands of our rapidly changing economy.
You mean retrain java-coders to become roofers, and roofers to become java-coders? How about get rid of both unemployment checks and minimum wage laws, and watch the market clear of unemployment as people reorganize into productive pursuits?
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