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Friday, February 12, 2010

They Replaced Horses, Didn't They?

Many of the jobs lost are not coming back. Not in the U.S. and not even in China. New Chinese plants use as much if not more technology than those in the U.S. This is one reason why the unemployment rate for 24-55 year old men is high. "In November, 19.4 percent of all men in their prime working years, 25 to 54, did not have jobs, the highest figure since the Bureau of Labor Statistics began tracking the statistic in 1948. "

Economist's View: They Replaced Horses, Didn't They?

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