Where are the new jobs?
Interesting blog post by the new york times.
It suggests a flaw in the common wisdom that the only sectors where there are jobs is in education and health-care. While it is true that that’s where the most job openings are, the fields where the most actual hires are is in business and professional services, which coincidentally is where most of the layoffs have also occurred.
What I think we see here is a lot of “rearranging of the deck chairs” as the new york times puts it. Or in another words, companies replacing workers that they don’t need anymore with ones that they find more desirable. I think this also highlights a common fallacy that a lot of economists fall for when looking at “knowledge” industries. That workers, and their skills, are *not* interchangeable.
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