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Are the jobs gone forever?

Summary:
[unable to retrieve full-text content]In my previous post, I linked to a Tyler Cowen post that quoted Betsey Stevenson: The problem is that old jobs are long gone for the vast majority of those who remain unemployed. In a narrow technical sense that may be true. But according to Yahoo, this is also true: More signs of labor shortages […]

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In my previous post, I linked to a Tyler Cowen post that quoted Betsey Stevenson: The problem is that old jobs are long gone for the vast majority of those who remain unemployed. In a narrow technical sense that may be true. But according to Yahoo, this is also true: More signs of labor shortages […]
Scott Sumner
Scott B. Sumner is Research Fellow at the Independent Institute, the Director of the Program on Monetary Policy at the Mercatus Center at George Mason University and an economist who teaches at Bentley University in Waltham, Massachusetts. His economics blog, The Money Illusion, popularized the idea of nominal GDP targeting, which says that the Fed should target nominal GDP—i.e., real GDP growth plus the rate of inflation—to better "induce the correct level of business investment".

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