A good news to see!
Manufacturing, the largest sector in Ohio's economy, is revving up production and employment after being hit hard by the Great Recession. The revival in Ohio is being fueled by the return of the American auto industry, the growth of energy production in the U.S. and the skyrocketing demand for steel and other building materials overseas. The recovery of manufacturing also drove the whole economy in Ohio.
But on the other hand, it is explained in the news that because of the enhanced productivity: newer machine and technologies, the employment rate will hardly go back to the pre-recession level. Jobs are not coming back, and some of them will be lost forever. I think, according to what we learned in class, this is not surprising. There is no short term way to solve this problem. Instead of blaming China's stealing jobs from US, a better job matching and training system is needed. Input on public education will work too, but effect only can be seen in the future. How to relocate jobless people will be the main issue to deal with now.
1 comment:
This sounds very similar to Sweden's role of government in the job market, which we discussed in class. They have one of the lowest unemployment rates because the government puts a great deal of resources into creating jobs, training for jobs, and matching individuals with the best job offer for them. This helps to lower the turn over rate for jobs.
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