Maybe we would be better off putting economists and seasoned (small) business leaders in office. Because maybe then we’d create a better private sector environment that brings back a job growth heartbeat.
I didn’t want to make this week’s recap political, but that’s difficult to do when all I hear is crazy extremism with little to no economic basis for growth, and certainly no viable plans. At all.
What ails the global economy is unprecedented. We haven’t seen this many people out of work for longer than six months since before World War II, and we haven’t seen this many emerging markets and simultaneous downturns and financial market meltdowns since the end of WWII.
I wrote yesterday that most mainstream economists agree 100% employment just isn’t possible or even should be possible. Consider NAIRU, which is an acronym for Non-Accelerating Inflation Rate of Unemployment:
“Any given labor market structure must involve a certain amount of unemployment, including frictional unemployment associated with individuals changing jobs and possibly classical unemployment arising from real wages being held above the market-clearing level by minimum wage laws, trade unions or other labour market institutions.”
Wait, I forgot. We’re human. We also have to consider corruption, taxes, tariffs, regulations, greed, exploitation, violence — all of which can stifle micro and macro economies, so it’s no surprise that we couldn’t have zero unemployment even if we really wanted to.
And political extremism is killing any hope for a healthy business market and job growth in this country. By the numbers, the greatest job growth comes in small business, the global innovators and incubators of the new millennium.
Sure, there are still inherent problems with our recruiting processes here, there and everywhere, as well as a major skills shortage and (bidding) war for specific talent that inflates the market while other sectors lie flat, but the good folk on last night’s #TChat helped to solve all that.
Hey, maybe we should put all of you into office. Yes, that’s the new plan and we can still have our economists as advisors.
- Q1. Is zero unemployment possible? If so, what would be the major repercussions?
- Q2. Is job search broken? If so, what can be done to fix it?
- Q3. Do recruiters and employers make the hiring process too complex? If so, how?
- Q4. Looking at the job market today, do you see a jobs crisis or a war for talent?
- Q5. What’s your advice on job creation (in 140 characters or less?)
- Q6. What will the (job outlook) look like for Generation Z? Better or bleak? Why?
The #TChat Twitter chat and #TChat Radio are created and hosted by @MeghanMBiro @KevinWGrossman and powered by our friends and partners @TalentCulture @Monster_WORKS @MonsterCareers and of course @Focus.