“…are you sure this is the right way?”
Productivity and Costs, Second Quarter 2012, Preliminary.
Yes, “Human Capital” has measurements, and the Bureau of Labor is putting them forth…compliments of the Bloomberg Report, this is a fascinating wormhole to explore. Workers are not leaving current jobs voluntarily, and have increased their output without a return investment in development or achievement. On the other side of the coin, those who are unfortunate enough to be out of work are seeing their skills erode.
As explained by Michael Feroli, Chief U.S. Economist with JP Morgan, “human capital [there's that freaking term again - JW]…is slipping as a significant chunk of the workforce sits idle for weeks or months – more than 40 PERCENT of the unemployed have been without work for a half year or longer.”
So if you’re unemployed, you’re becoming a less valuable commodity. If you’re employed, you’re running faster on the hamster wheel without any additional cheese. Methinks somethings gotta change.
John “Whit” Whitaker is the Founder and Managing Partner of HR Hardball™. And yes, there’s a high geek factor involved in discussing wormholes. To send Mr. Bladerunner an email, or to submit your own thoughts for publishing on this site:
whit@hrhardball.com
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