I shouldn’t have read The Economist’s leader on the “jobs crisis” over lunch yesterday. A few snippets:
“An American who loses his job today has less of a chance of finding another one than at any time since records began half a century ago… .
“Morever, many of yesterday’s jobs, from Spanish bricklayer to Wall Street trader, are not coming back. People will have to shift out of old occupations and into new ones…
“The bare truth is that the more easily jobs can be destroyed, the more easily new ones can be created.”