Dean Baker wins the internet today. The set up:
The Wall Street Journal ran a piece on how some companies are unable to fill positions even when more than 14 million workers are unemployed….
All the people used as sources for the article complained that they were unable to find qualified workers. For example, Josh Williams, the chief executive of Gowalla, a social networking start-up, is quoted complaining that: “most people we want are employed somewhere already. We don’t get a lot of applications coming in.”
And the snark:
The way employers are supposed to deal with this situation is to offer a higher wage than their competitors in order to attract away good workers. Apparently Mr. Williams has not thought of this approach.
While we’re on the subject of dumbass CEOs, here’s a posum for you: if unemployment really is structural (and not due to a downturn in demand), then why haven’t we fired the CEOs and managers who didn’t anticipate the structural failure?