Thursday, May 12, 2005

The Young and the Jobless - NYT

Bob Herbert a columnist with NYT has written a nice article.

Some Excerpts:
"Whatever the politicians and the business-booster types may be saying, the simple truth is that there are not nearly enough jobs available for the many millions of out-of-work or underworked men and women who need them. The wages of those who are employed are not even keeping up with inflation."

"Two-thirds of this generation are not living up to their parents' standard of living"

"The economy is growing and real output is up," said Mr. Sum, who is also a professor at Northeastern. "But the distribution of income, in terms of how much is going to workers - well, the answer is very little has gone to the typical worker."

And lastly
Gains among recently arrived immigrants seem to have accounted for the entire net increase in jobs from 2000 through 2004.

Please note though the scenario seems very familiar, the article is about USA not India.

Click on Bob's name and read the article.....

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