Proof of a Structural Change in the U.S. Workforce
August 12th, 2014 Doug Short
Yesterday Federal Reserve Vice Chairman Stanley Fischer gave a speech on the topic The Great Recession: Moving Ahead. A key topic is the question of long-term changes to the economy — whether we’re experiencing economic weakness with deeper roots than the cyclical effect of the last recession.
Despite Mr. Fischer’s ambivalence toward “the relative importance of cyclical (short-term) versus structural (long-term) factors”, I believe there is profound evidence that the U.S. workforce has undergone structural changes more fundamental than the cyclical impact of a recession.
Source: http://www.advisorperspectives.com/dshort/commentaries/Stuctural-Changes-in-Employment.php
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