Is Unemployment Caused by a Skills Mismatch?
Editor’s Note: Friday’s story, “Can America’s Jobless Fill American Jobs?” looked at the extent to which high unemployment is structural, and the extent to which it is cyclical.
Zachary Karabell of economic research and consulting firm River Twice thinks much of what we’re seeing is structural. He sees a shift occurring in the economy which is causing a mismatch between the skills employers want and the skills job seekers have.
Mike Konczal of the Roosevelt Institute, on the other hand, argues unemployment is mostly tied to the economic cycle. He believes we have a high jobless rate because the economy is relatively weak.
As usual, we had a lot more material than we could fit in the piece — so we’re posting this online extra.