This is an aside titled 'When jobs disappear' dated 3/12/09

“When jobs disappear” in The Economist. A must read article on global job losses. Europe’s fragile temp workers. Why America was hit so hard and so quickly. And the scary future for some Japanese, who depend on their job not just for the wages, but for beds to sleep in. Toward the end of the article there’s a brief summary of the US foreclosure crisis puts it in a way I hadn’t really seen examined: that an upside-down mortgage is a problem of mobility. They are stuck in homes and can’t move for better job prospects. When you think about it, what is more American than the capacity to throw all of your things in a carryon and drive off to California for a better life?

Posted by Joanne on Mar. 12, 2009 Tagged: , , , , , , , , ,

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