Fast Growing Careers: Good News for Economy?
Posted by
follow me
,
at
6:51 AM
Yahoo! posted this story with the caption that read: "A spike in want ads for some careers could mean the economic outlook is brightening." However, given that the top two fastest areas of growth are in Legal Careers and in Business and Financial Careers (led primarily by growth in accounting jobs), I am not so optimistic. Assuming that the accounting growth is primarily for tax accountants, the top two job growth areas are not indicative of job creation, but of resource reallocation. If the tax code were not so complex and if we had a well functioning rule of law, resources (financial, human, and capital) would be freed up for use elsewhere, and certainly in areas that provide much greater value to society. Ultimately, growth in areas that are effectively government induced is not economic growth at all. It is purely an increase in cost as we attempt to hold onto our current level of wealth.
Subscribe to:
Post Comments (Atom)
Popular entries
-
As Europe’s leaders struggle to convince markets that their Greek debt problem-resolution-proposals are actually viable, and will really do ...
-
Steen Jakobsen, chief economist for Saxo Bank in Copenhagen, pinged me with a personal thought regarding Europe: " I am just back from ...
-
China has its fingers in nearly every aspect of global financing as the following articles show. San Francisco-Oakland Bay Bridge Now Made i...
-
Europe's manufacturing and service industries contracted in September at the fastest pace in nearly seven years as continuing problems i...
-
Ok, well yesterday I gave a brief resumé and outline of the state of the German labour market, about why the recent drop in unemployment is...
-
Basically, following up on this post earlier this month I wish to report that the 3 month euro libor rate is still stuck where it was, way ...
-
Why have routine (and not so routine) medical and dental services performed in the US when you can have them done cheaper elsewhere and get ...
-
Equity futures are down sharply in Asia, Australia, Europe, and the US in conjunction with data that shows manufacturing in China is barely ...
-
The FBI made numerous claims in today's official press conference. They are largely refuted by Dr. Meryl Nass, an expert on anthrax. I...
-
Kevin Hassett, an economist at AEI and an adviser to John McCain, is stepping into the debate over whether NBA referees are fixing games (vi...