"And I worry that those in power, rather than taking responsibility for job creation, will soon declare that high unemployment is “structural,” a permanent part of the economic landscape — and that by condemning large numbers of Americans to long-term joblessness, they’ll turn that excuse into dismal reality."
Maybe it is structural, & will last for quite a while.
There is a long discussion thread on the Drum on this, for those who are interested.
What do we do about unemployment?
Posted by Gail the Actuary on August 1, 2010 - 9:15am in The Oil Drum: Campfire...
In much of the US, we have been living through a time of high unemployment. Among those working, many are taking part time jobs, when they really want full-time jobs. Some are in school (yet again), hoping that with retraining, they may find a new job. Lack of suitable jobs are a problem in many other parts of the world, as well.
If recession goes with peak oil, then unemployment is likely a symptom we will see more and more of. Theoretically, it is only a temporary situation--if the world transitions to another energy source, then there may well be jobs. If renewables somehow generate enough net energy to replace what we have lost from oil and natural gas, then, with the new infrastructure, there may be enough jobs to go around (although with their record so far, this transition looks at best like a long, very rocky one). Or if we go back to life more like it was before fossil fuels, manual labor will be in great demand, especially for growing food, obtaining water, and making clothing. If we build factories that can be operated without fossil fuels, people will also be needed to operate them.
But how can we handle the transition, if it leads to more and more unemployment?
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