Video — U.S. Job Market — People Staying in Jobs Longer — WSJ.com.
The Cleveland Fed shows research that people staying in jobs for longer periods of time is requiring adding the economic shock of any crisis where lay-offs or retraction is involved. The problem with this is that research also shows that people out of work are less likely ever re-enter the work force.
While economists (per the this interview) wouldn’t look at this as a “structure problem” because of the forecasted potential for worker volume to return, it is likely that their opinions are a bit too faithful in the existing model of compensating laborers for a honest days work. The enduring jobs crisis can and should of course be looked at as an economic issue and even a political issue, but it would likely be better pursued as a socio-cultural and a legal issue.
The ideal of honesty and the preferred compensation for ones good work is perhaps too subjective; having stated that, the ability for an individual to own so greatly in lieu of the potentially many other individuals that cater to the discovery, development, and distribution of goods/services is (in my opinion) the root cause of our (nation, states, humans) wealth distribution and compensation problems.
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