Unemployment: structural or lack of demand?

Source: Paul Krugman

More on the structural unemployment thing. As Mike Konczal points out, there’s something clearly obsessive about the desire to tell a structural story. It’s not just that people keep coming up with new arguments after each successive argument is shot down by the data; it’s the fact that it’s the same people who keep coming up with new arguments, strongly suggesting that they really want to believe it’s structural, and won’t take no for an answer.

Anyway, some readers responded to this post by asking what it looks like if you consider occupations rather than industries . Mike has one version:

Before I saw his post, I did a slightly different version, looking at the percentage change in unemployment rates from 2007-2010 by a more detailed list of occupations; loooong chart after the jump:


So, which are the occupations in which unemployment has fallen, the skills in high demand? There aren’t any.

This looks like a general fall in demand.


About James Crist

How do we stop America's decline? The country is in trouble and we can all feel it. Where did we go wrong? How do we fix it? We now have an auction-based government, for sale to the highest bidder. Politicians have become nothing more than corporate whores and pawns for the rich. If we want our representatives to represent us, let them get their campaign money from us, their constituents. We have to amend the constitution to get the big money out of politics.
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