Unemployment is dominated by sectors directly connected to the real estate/financial boom (construction, real estate, finance) which are no longer booming...
This is the thing that makes me skeptic about all the "distribute available work", "create subsidies for displaced workers" proposals. People still need houses, food, all that. It's the demand that starts the economic cycles.
Real state, at least in some countries, has been the "engine" that fuels the economy at large. But if it's stalled, some other area must become the lead.
This is the thing that makes me skeptic about all the "distribute available work", "create subsidies for displaced workers" proposals. People still need houses, food, all that. It's the demand that starts the economic cycles.
Real state, at least in some countries, has been the "engine" that fuels the economy at large. But if it's stalled, some other area must become the lead.