Jobs: The Problem Isn’t Weather, It’s Climate
Last week was beautiful. We went hiking, biking, mowing, planting and weeding. But the labor market still seemed to remain frozen. After months of every weak and lackluster piece of data being blamed on bad weather (the big freeze and all that) by both the perma-bulls and the ‘Bama cheerleaders, how are they going to explain the frozen job market after such a decisive Spring thaw?
Time to be honest with ourselves. This week’s increase on new jobless claims of 24,000 claimants cannot be blown away by a snow storm. As the warmists like to say: The problem isn’t weather, it’s climate. We have a policy and cultural climate inhospitable to job creation.
Want to thaw things? Stabilize the dollar. Currency volatility saps business confidence and diverts vast resources away from high-impact capital investment and into inflation hedges. Scrap Obamacare; if a group of geniuses had conspired to create a program designed to discourage hiring, it would look a lot like the Affordable Care Act, and the fact that no-geniuses designed it to do us all good does nothing to put my mind at ease. Tie welfare to work requirements: Some game the system, some are genuinely needy. The former steal from the latter and from the rest of us. Oh, and stop all this sabre-rattling about moving the minimum wage restrictions up towards the average wage.
In short, de-Europeanize the US economy and you will de-Europeanize the US labor market.
Article originally published on Forbes.com.