Business Advisory Blog Business management information from Robert Griffin.

July 22, 2010

Econometrics Continued

So with the economy significantly changed away from the traditional hard manufacturing base to what I would refer to as soft sector based we have to find a new interpretation of what an “Improving” economy looks like versus what a “recessionary” economy looks like.

Lets take jobs. Soft sector jobs, i.e. IT (Hardware and software), and Services (legal, financial, insurance), are areas where output can be increased without a proportionate increase in people, i.e productivity gain. Then when people are added they are professional level people.

On the other end of the spectrum services such as fast food, and hotel and restaurant jobs may increase in relation to the economy but are these real living wage jobs? Is this disposable income or survival income?

So then what’s in the middle? Where are the jobs for those that didn’t or couldn’t go to college, and yet paid a living wage? Answer, those jobs left with the manufacturing work and are now off shore.
If we want to know how the economy is doing jobs is a very important factor and just counting the number of new jobs is useless, all jobs are not created equal. What kinds of jobs and at what pay level is even more critical.

Robert V Griffin

http://www.griffinadvisoryservices.com

179 Comments

  1. We can talk about that. Let me know what you have in mind.

    Thanks

    Comment by Robert Griffin — December 8, 2010 @ 10:10 am

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  3. Hi, yes that’s fine with me as long as I get the reference and the link back to my site.

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    Comment by Robert Griffin — May 6, 2011 @ 8:38 am

  4. Thanks

    Comment by Robert Griffin — July 18, 2011 @ 1:07 pm

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