Monday, July 18, 2011

The unpredictable and unregulated free market creating many unemployed.

When you don’t have a real business plan, one that can be duplicated, rejected or adjusted, there’s no way of coming up with a model that works. Free market loudmouths don’t seem to care though.

For example: 

jsonline: Ali Johnson graduated from the University of Wisconsin-Madison in December with a degree in biomedical engineering. Now she's back home - living with her parents, working as a prep cook for a cafe in Red Wing, Minn., and still hunting for a job in her chosen field.

"We're suffering from this complete lack of job creation in the country," said Andrew Sum, a professor and director of the Center for Labor Market Studies at Northeastern University in Boston.

At a time when the “wrong-way” Republicans are pushing to raise the retirement age in Social Security and Medicare, it appears that would be counter to a market that needs a higher turnover of workers.

"A lot of older workers have stayed on, and quit rates are down," he said. "So you have low turnover, which makes it hard for people to get new jobs. The youngest people are the most adversely affected because they depend on growth to get their jobs."

Instead of raising the retirement age, it should be lowered, while lifting the cap on taxable income to pay for the increased years and needs of those on Social Security. 

No comments:

Post a Comment