I've said this before, but I'll say it again - companies will only hire more people when their current ability to supply is outstripped by the demand. I think it's foolish for the U.S. people or its politician to think that the businesses of the world, who are reportedly sitting on something like $1.5T, would suddenly begin hiring by the hundreds of thousands if we would just get rid of some regulations and/or Obamacare, just because they have a lot of money in the bank. The simple fact is that companies have learned to do more with less, either via automation, efficiencies, or just plain "cutting the fat". A lot of those high paying jobs that were cut during the Great Recession are gone forever.
What the U.S. job market is missing is the "next big thing" that spurs enormous economic growth. The 50's gave us the Expressway System, the 60s was the Space Program and all that went with it, the 70s ... well, maybe not much happened in the 70's, no one can remember..., the 80s ushered in the PC and all of its spinoffs, the 90s brought the internet and the telecommunications explosion, the 00's brought the Real Estate Speculation Bubble and "Creative Financing" (in other words - nothing tangible), which was the cause the Great Recession to begin with. And what's on the horizon now? Alternate energy sounds appealing but until the world's oil supply drops to the point where supply and demand pricing gives us no choice but to adopt it, alternate energy will be a nice background window dressing on the economic landscape.
So what is the next "Big Thing" to goose the economy? Beats me.
AI
