Word: groshen
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Dates: during 2000-2009
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...offshore in the next 15 years, taking $136 billion in wages and slowing down wage growth. Better technology and more efficient management have eliminated white-collar jobs too. What that means, then, is that legions of unemployed workers will have to switch industries entirely to find employment, says Erica Groshen, an economist with the Federal Reserve Bank of New York, who coauthored a paper on the subject...
...April, and while 1.4 million people hold part-time jobs only because they were unable to find full-time work--up 27% from a year ago--the growth of temp jobs isn't altogether a bad thing. "It seems to have some predictive power for permanent employment growth," says Groshen. "Companies seem to experiment with the job itself or with the particular employee. Do we really need this job? Can this person really do it?" If the answer is yes, it can lead to a permanent hire...
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