Job Creation May Be The Defining Issue of This Generation

A few weeks back, I was in Puerto Rico giving a keynote speech at a Chamber of Commerce summit on Entrepreneurship, Education, and Exports (see details here). Although I was discussing how entrepreneurship can promote job creation, as a starting point I pointed out that, although the recession may be officially "over," job creation rates in the U.S. are still plummeting, which is very different than the previous recessions in recent memory (see the grim statistics here). Today, the folks over at Economix made largely the same point using different statistics. They credit increased offshoring and globalization. I agree, but also think new technologies which make many traditional office jobs obsolete are playing a role. Whatever the causes, its an alarming trend that needs to be addressed at the policy level.