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.
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.