June 08, 2013
The NYT picked up a twitter comment from Justin Wolfers and told readers that the United States is lagging other countries in job creation. The blog post has a graph showing a higher rate of job growth in several other wealthy countries. The piece then tells readers that the United States is doing a poor job translating economic growth into job growth.
Actually the U.S. has been doing a very good job translating very weak growth (@ 2.0 percent over the last two years) into jobs. This is shown by the extraordinarily weak productivity growth over this period, it’s just that other countries are doing better in generating jobs from even weaker growth.
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