Any attempt to forecast what skills will be needed 10 years from now is just folly. If 10 years ago someone told you financial analysts were a job that was going to be exposed to intense global competition, a lot of people probably would not believe it but that definitely seems to be a possibility today. |
I don't think it's a fait accompli that it's going to make the middle class poor in the United States. But I do think it's a useful warning that this is going to be tough for a large swath of workers in the United States, if managed poorly. |
If it's not a big story yet, it could become one. |
It's a big puzzle. If this is a knowledge economy, how come the brains aren't being compensated? Instead, the owners of physical capital are getting the rewards. |
This is a better-than-expected report, but not one that gives you full confidence that this is an economy ready to spring ahead. |
You can't read this [GDP] report and expect it to translate into a good report tomorrow. Employment is a lagging indicator, so it will be at least two quarters, or maybe even four quarters, before better growth numbers translate into better jobs numbers. |