Saturday, July 3, 2010

Recalculation in the Labor Market

A new NY times story about how manufacturing jobs are having difficulty hiring people because of a skills shortage.

Some random thoughts:
  • This seems to me to be a failure of education.
  • Eventually companies in the US will have to increase and fund their own education efforts (beyond just specific skills training), because it seems that our k-12 educational establishment has failed to teach a significant portion of our labor force.
  • This all fits Arnold Kling's "recalculation" story.

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