As You Languish, Unemployed, Profits Are Up

Could there be a silver lining to unemployment? According to Steve Matthews, writing at Bloomberg.com, yes—if you’re a business.

“The 6.8 million Americans out of work for 27 weeks or longer — a record 46 percent of all the unemployed — are providing U.S. companies with an eager, skilled and cheap labor pool,” he writes. In fact, companies have been able to upskill their workforces so effectively that Matthews argues it’s the factor behind the 61 percent uptick in the S&P 500.

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