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...unemployment rate. Now 15% is a realistic possibility. And yet we're hearing few interesting ideas about how to enhance America's already groaning unemployment support system as millions of Americans sit idle. Tangled in the debate over health care - and bleeding political capital - the White House may find itself too weak and distracted to deal with the danger of joblessness...
...Hysteresis, Summers explained, could come from all sorts of shocks like this. And that may be what is playing out in the U.S. If you look at the three great job busts of the past 100 years - the 1930s, the early 1980s and today - you find an important difference. The Reagan recession ended with workers returning to jobs that were the same as or similar to the ones they had lost. But 1930s joblessness was structural. The jobs people lost - largely in agriculture - never came back. Workers had to move to the industrial sector, a transition helped by the demands...
...access to retraining, subsidized mentoring for careers in high-end manufacturing or health services. Handled well, such a program could be a "cash for clunker careers." Obama should also bring together innovative minds in technology and service - the people who run consumer-driven businesses like Disney and Google - to find ways to make the process of being unemployed less of a bureaucratic and emotional mess...
...holding prices steady might be OPEC's toughest act yet. Oil analysts list a few key factors that OPEC leaders will find all but impossible to control and that could complicate efforts by the U.S. and Europe to kick-start a global economic recovery...
...this means that OPEC leaders struggling to control the actions of their members - let alone those of competitors like Russia or independent investors - will find keeping prices steady harder and harder...