• 817 days Will The ECB Continue To Hike Rates?
  • 818 days Forbes: Aramco Remains Largest Company In The Middle East
  • 819 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,219 days Could Crypto Overtake Traditional Investment?
  • 1,224 days Americans Still Quitting Jobs At Record Pace
  • 1,226 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,229 days Is The Dollar Too Strong?
  • 1,229 days Big Tech Disappoints Investors on Earnings Calls
  • 1,230 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,232 days China Is Quietly Trying To Distance Itself From Russia
  • 1,232 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,236 days Crypto Investors Won Big In 2021
  • 1,236 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,237 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,239 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,240 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,243 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,244 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,244 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,246 days Are NFTs About To Take Over Gaming?
Ian Campbell

Ian Campbell

Through his www.BusinessTransitionSimplified.com website and his Business Transition & Valuation Review newsletter Ian R. Campbell shares his perspectives on business transition, business valuation and world…

Contact Author

  1. Home
  2. Markets
  3. Other

A Positive Opinion on U.S. Jobs!

Why Read: To review and think in a balanced way about an optimistic (and different from my) view on the U.S. labour market.

Commentary: The Financial Post (Toronto) recently published an article written by the Eric Lascelles, Chief Economist of RBC Global Asset Management. Mr. Lacelles outlined a number of reasons why he believes that:

  • the U.S. is years away from a "fully normal labour market" he believes that progress is being made on that front; and,

  • "we're all going to wake up with a start one morning and realize that obscured beneath the daily clutter of disappointments and furrowed brows, the U.S. economy has managed to heal itself, labour market and all".

As a reader of these Newsletters, you are aware that I believe:

  • the U.S. has fundamental structural unemployment problems;

  • that no number of part-time job additions or service sector job additions will compensate for the loss of more meaningful manufacturing jobs;

  • that technology advances are not 'job friendly'; and,

  • that many U.S. jobs - particularly manufacturing jobs - that have been lost won't be recovered.

I suggest you take the time to read and think carefully about Mr. Lascelles' article. His 'U.S. Labour glass' seems 'full to the brim', whereas mine is 'less than half full'. It is good to consider all points of view when reaching a conclusion.

I will have no problem being wrong if Mr. Lascelles' view proves to be the correct one. This is, of course, because all other things equal should Mr. Lascelles prove to be right we all will be better off than I expect us to be.

Topical Reference: U.S. labour market on the mend - gradually, from The Financial Post, Eric Lascelles, July 30, 2012 - reading time 3 minutes.

 

Back to homepage

Leave a comment

Leave a comment