Odd Jobs
No, not the one with the deadly hat sailing at Bond -- James Bond. Jobs these days are headline items. Seems there aren't enough of them and it is causing the politicians problems -- to say nothing about the guy down the street. The solution has been to spend money on a variety of pork barrel items.
Now, if you've followed the markets for a few decades, there is an item that stands out. It is productivity. Wall Street is always hyping it and there is grounds for doing so. But, productivity is about less jobs. And productivity centers, mostly, around large companies.
That has been brought to the forefront in a recent study. Job growth by small and less than five year old companies has consistently exceeded overall job growth. That jibes. If we depended on large companies, we'd have long ago started heading for 3rd world status. Their job base has been constantly shrinking and that is by design and efficiency.
A large part of the stimulus package has been directed at benefiting large companies. Examples are “Cash for Clunkers” and road building that benefits large engineering firms. The government is spending money in an area that was negative jobs growth in good times. Way to go Washington.
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