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[nimblebear]

So the labor participation rate is at an all time low which is not surprising, and until the country and its businesses find a heck of lot more stuff to competitively export, that people NEED, its unlikely we will see nothing but even lower participation rates, coupled with fewer and fewer new jobs needed.

Its a continual process going on right now, which has been for the better part of 3 decades, to automating many tasks, or people combined with "machines" (robotics or computers) doing the work of many from just a few.

Many jobs continue to go unfilled, because the skills needed are so very different than what people are being trained for, or even provided for in the basics of HS or Colleges. But even if those jobs are filled and high paying it barely puts in a dent in the unemployed, or jobless and not looking, but wanting to have one.

Add to that the many boomers retiring, and the many more who can't retire, need to work, and probably aren't well trained for new jobs either, and you have what amounts to continuous outsourcing of millions of jobs to remote laborers in India, China, Taiwan, Korea, or Japan. These are laborers with lots of high tech training, if not heavy on math and science, and computer skills, where those countries push them from early school years all the way through to college. And if they attend universities here, and go back, our schools are merely low level "finishing schools" for them to learn how to navigate the politics of getting a job here in America, and catching onto the american "vernacular." But they have been well taught, and well trained far before they come to our universities or some such post secondary education.

http://www.cnbc.com/id/47637892

So this guy is right. Jobs here and the growth wont improve much until we revamo a heck of a lot of things, and will probably have to institute warped government policies, or interventionist policy for a decade or two just to play catch up. (that is if we decide as a nation we want our kids to be anywhere close as educated as most Asian students are.)