Unemployment rate is expected to remain steady
Employers probably added jobs in December at about the same pace as the prior month, showing the U.S. labor market held up as lawmakers struggled to resolve the fiscal impasse, economists said in advance of a report due this week.
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#1 Dec 30, 2012
Unemployment is only going to become a larger and larger problem as time goes on due to automation. We already have more people than we need to get the work that needs to be done completed and automation is just going to push this further and further. This is a huge part of our unemployment problem in the US. When we passed that threshold of having more laborers than necessary it put us in the position of having to make a choice. Either we play the economic game of musical chairs and a large number of people are just simply fucked. Or we have to restructure our social and economic systems to account for this imbalance.
I am personally in favor of option number 2 but I do not expect us to get there without a few uncomfortable decades of musical chairs.
I wrote a bit about this topic about a month ago: http://bit.ly/UmnnP5
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