Green Shoots Scenario: Onshoreable jobs

Posted Jun 17th 2009 8:00AM by Alex Salkever
Filed under: Forecasts, Good news, Economic Data, Housing, Financial Crisis

Markets were mixed and downish Tuesday, but there was some good news to be found.

Housing starts and building permits soared, causing a big pop in shares to battered homebuilders. Whether this is a false start or a real jump, its hard to get anything but good news out of a housing market so beaten down.

On the industrial side, the Produce Price Index remained relatively stable, walking the narrow path between two evils -- deflation and inflation.

And some interesting food for economic thought from economist Richard Baldwin: Baldwin questions the huge number of jobs (tens of millions) that prominent Princeton economist Richard Blinder says are likely to be "outsourced." In fact, Baldwin thinks that many of those jobs will ultimately return to the U.S., something he calls "insourcing," as jobs are moved closer to markets for various reasons. Baldwin estimates that the U.S. could actually be a huge beneficiary of insourcing -- some positive news for U.S. job hunters!

Alex Salkever is Director of Research at Piqqem.com, a stock research community powered by the Wisdom of Crowds.

Tags: construction, deflation, housing, inflation, outsource, outsourcing, ppi

Print this

Reader Comments (Page 1 of 1)

6-17-2009 @ 8:18AM

master finance said...

Awesome article! I have gradually become fan of your article and would like to suggest putting some new updates to make it more effective.
master finance

7-07-2009 @ 1:21PM

Doug T said...

I believe housing starts - building permits and real estate generally will continue to move forward near term at least. Real Estate has been among the best performing sectors of the global market place of late. http://www.mutualfundwealth.com/