by Jerry O’Driscoll
Steve Horwitz has stimulated a lively discussion of the slow recovery in jobs at Coordination Problem. There are two letters in today’s Wall Street Journal addressing the issue. One letter references an earlier article in the July 10th Journal.
The article is titled “Debt, Bank Troubles Leave U.S. Trailing in Job Growth.” It has charts showing how the U.S. is lagging shockingly in the jobs recovery compared to other major economies, and select developing countries (those reporting jobs numbers in a timely fashion). The only problem with the article is that it can’t explain the lag with the factors it adduces. Other countries with banking and debt problems are doing better than the U.S. in the jobs picture.