Employment changes in recessions past. (Howard Rosen)
By Caitlin Kenney
Ahead of this week's White House jobs summit, Howard Rosen of the Peterson Institute sent us his thoughts on the current state of employment in the U.S.
He writes:
Current slow growth in job creation is result of recent changes in the US labor market -- a change in the nature of unemployment. Over the last 30 years, despite long-term declines in the unemployment rate, the average duration of unemployment has steadily increased. This signals a shift from temporary layoffs to permanent job losses. The average duration of unemployment is currently the highest in over 40 years, and unemployment is no longer primarily due to cyclical factors; structural factors, e.g. technology change, increased domestic and international competition, have become increasingly important.
Rosen's also got some advice for the government on how to increase employment:
Worker assistance and training programs were beaten down over the last 8 years, and it is difficult to immediately expand them to meet new interest and demand. The administration has significantly increased funding for training, but we need to provide more resources to rebuild capacity, e.g. local career centers, training providers, including community colleges.
categories: Employment
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