Is a Jobs Crisis Coming?

Published on
July 24th, 2019
Duration
9 minutes

Is a Jobs Crisis Coming?

Future Fears ·
Featuring Art Bilger

Published on: July 24th, 2019 • Duration: 9 minutes

Despite the strong recent employment numbers, is a labor crisis lurking? Art Bilger walks Real Vision’s Alex Rosenberg through the four variables he sees converging to create a potential jobs crisis. He also explains why relying on traditional employment metrics can be misleading. This clip is excerpted from a video published on Real Vision on June 20, 2019 entitled “Behemoth Builder Warns of Looming Jobs Crisis.”

Comments

Transcript

  • fT
    forecast T.
    5 August 2019 @ 00:22
    Interesting viewpoints on jobs report inflation
  • NI
    Nate I.
    24 July 2019 @ 18:34
    I'm glad someone is finally calling BS on the "low unemployment" narrative. It's just absurd with participation at 30 year lows. I've been shouting this from the rooftops for years as have others like ieee.org. However, the speaker omitted the biggest pillar of them all at the root of low employment. As Charlie Munger of Berkshire fame likes to say, show me the incentives and I'll show you the outcome. The incentive today is the artificially low interest rates (central bank repression) that are crushing employment. My employer (a strong, debt free, company a mere 7 years ago transformed into a crap pile with a negative tangible book value today) has been on a debt and buyback binge to goose so called "earnings" that line executive pockets while laying off employees. Our products are going to hell in hand basket as engineering, customer support and quality assurance have been decimated. Each quarter brings yet another round of layoffs. You can implement all of the education and skills training you want, but there is no way we fix this employment issue until we wake-up and replace these crooks/cronies with the PhD standard with the gold standard. Once we get interest rates back to normal, business will return to building products/services that delight customers instead of paying a few chimps to sit around and issue more debt to buyback stock. Normalized interest rates will also put the brakes on government largess that exacerbates the situation by paying people (via deficit spending - essentially monetization) to sit on the couch.