This op-ed first appeared in the Los Angeles Business Journal and is reprinted with their permission.
Dave Smith, PhD
In recent weeks there hasn’t been much data supporting sustained economic stability, much less a recovery. However, it does appear the economy is no longer in a freefall, and we are likely experiencing the depths of this downturn.
Since the start of the recession in December 2007, 6.3 million people have lost their jobs in the United States. Hundreds of thousands more per month are likely to join the ranks of the unemployed for the next several months, and the national jobless rate is expected to reach as high as 10 percent. In California, unemployment hit 11.5 percent in May and will surely peak at more than 12 percent in the coming months. L.A. city’s unemployment rate was even worse at 12.5 percent.
There is little cheer for the currently unemployed, underemployed or those seeking better career prospects. However, looking ahead, there are some breaks forming in the gray cloud hanging over the economy, brightening the outlook for job seekers.
In reviewing a number of sources of information, I believe it is likely that several areas of the economy will lead the way for jobs and economic growth. It also is my opinion that near-term jobs created as an outgrowth of the 2009 American Recovery and Reinvestment Act will not be among them. Here’s how I see it: Continue reading ‘Learning on the Job’
