Economists Cite Lack of Demand for Lack of Jobs

Contrary to Observations, Their Are Some Real Economists Out There

A survey of economists revealed  that most of them think a lack of demand is the reason for the lack of new hiring.  Really, they did.

The main reason U.S. companies are reluctant to step up hiring is scant demand, rather than uncertainty over government policies, according to a majority of economists in a new Wall Street Journal survey

Well, nobody tell Conservatives or the Obama Administration’s economist, it will just ruin there day and demolish their belief that if only government spending is drastically cut the Confidence Fairy will come and bestow millions of jobs on the unemployed.

One would think that one industry where job growth is taking place is in wireless communications.  One would be wrong.  It is true that the industry is growing, despite the Great Recession, but that growth has not translated into increased employment.

 While the industry's revenue has grown 28% since 2006, when wireless employment peaked at 207,000 workers, its mostly nonunion work force has shrunk about 20%.

The disconnect between employment and industry growth reflects the broader head winds lashing the U.S. job market, as consolidation, outsourcing and productivity gains from new technology and business methods combine to undermine job growth

Gee, maybe cutting the payroll tax is a way to get these companies to hire employees they no longer need.  No.  You don't think so.  The Dismal Political Economist didn’t think so either.