Welcome to the 'Help Not Wanted' economy

Things are still really bad out there. Where I live in Illinois, the local paper has few advertisements for jobs. And around town, there are few "help wanted" signs (I saw one at the supermarket and another at a convenience store). Unemployment is beyond 15% with many having given up looking for work at all.The reason is becoming more and more apparent as we try and recover from this very deep recession; business owners, not government bureaucrats, academics, or the president of the United States know that it is not the time to begin hiring.Why? Jerry Bowyer of National Review has a chart showing, as he put it, "Worst. Hires. Rate. Ever." Economic minds on the political left might reflexively counter that the blame should fall on the greedy businesspeople who are not hiring. But even if we concede that business owners are greedy (which we do not), was there ever a point, across the hundreds of months during which the hiring rate has been reported, when they...(Read Full Post)