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If we stick to the current "hard landing" parabolic path, we'll completely run out of unemployed workers aged 25 and up with no high school education in June of 2017. Further, we're just a few months away from the old record low set back in December of 1999. How crazy is that? Party like it's 1999? Indeed!
In any event, this trend must fail. It is 100% certain. There's no arguing with the math. How it fails is open for debate. I would argue that since we're literally coming in like a meteor (parabola and all), it probably won't be a soft landing. What can I say? I'm not an optimist.
Should we actually reach zero unemployment for these workers, this will be the stuff of legend. They'll be writing research papers about it centuries from now. Seriously. Hard landings, what went wrong, nobody could have seen it coming, you know, it will be the same old routine we've been through before for the most part.
Have no fear though. Should our lesser educated unemployment reserves become exhausted, many of of these additional jobs can be filled by those with more education. Whew! Recent college graduates saddled with debt would certainly qualify. This will also be part of the research papers more than likely.
July 30, 2014
The Onion: Study Finds College Still More Worthwhile Than Spending 4 Years Chained To Radiator
WASHINGTON—A study published Wednesday by the National Education Association has determined that a four-year college education is still a better investment of one’s time and money than spending the same duration chained to a radiator in a dank, unlit basement.
The future's so dank and unlit, I gotta somehow get free of this basement. Sigh.
See Also:
Six Questions for John Williams, President of the Federal Reserve Bank of San Francisco
Source Data:
St. Louis Fed: Unemployment Level - Less than a High School Diploma, 25 years and over
6 comments:
Bets I can import them a lot faster than you can employ them.
Rob Dawg,
Yeah, I suspect you are right. When we get down to just a few hundred or so left, no border fence would be strong enough. A scene from World War Z comes to mind, lol. Sigh.
In any event, should be very interesting to see how this all plays out. I don't think the optimists are going to be all that happy with the outcome.
Who am I kidding? The optimists can't really ever be unhappy. By definition, out of all possible worlds, we always live in the best one! Nothing can ever change that.
Optimists are like the Fed. They both desperately need to hold off reality until maturity.
Antoine Walker as Fed Chairman? Has plenty of crisis management experience!
I think there were different ways of how I could have saved the bulk of my wealth. I could have been on top of it.
If we are going to run out of workers, can't the President just issue some random order to bring a lot of new workers into the country? Just a crazy idea!
Mr Slippery,
Perhaps Yellen can print some! ;)
Paper doll
In Europe, particularly France, the first paper dolls were made during the mid-18th century. The paper was jointed and they were called pantins meaning dancing or jumping jack puppet. They were intended to entertain adults and spread throughout high society.
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