Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: DMaA who wrote (2185)	3/16/2004 10:02:11 AM
From: MulhollandDrive	Read Replies (1) of 116555

it's a damper because we're in a supply regime...globally it gets cheaper to make more stuff.. with the exception of benefits costs (also a damper on hiring) the labor cost of producing manufactured goods continues to fall. in basic supply/demand terms...."workers" have no pricing power....(oversupply relative to demand of finished goods) "We find evidence of structural change in two features of the 2001 recession: the predominance of permanent job losses over temporary layoffs and the relocation of jobs from one industry to another. The data suggest that most of the jobs added during the recovery have been new positions in different firms and industries, not rehires. In our view, this shift to new jobs largely explains why the payroll numbers have been so slow to rise: Creating jobs takes longer than recalling workers to their old positions and is riskier in the current uncertain environment." siliconinvestor.com

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