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« How does the market look? | Main | Being a philosopher in Singapore »

10/11/2019

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Pendaran

If this is based on PhilJobs then there are some reasons for concern. I’ve seen more foreign jobs posted there now than in the past. And more generally, PhilJobs has probably grown in popularity over time. So if the number of real jobs were constant, we might expect a rise in PhilJobs postings, not a flat line. In other words, the flat line might indicate a deteriorating job market. Just my immediate thoughts. Maybe I’m wrong?

Sam Duncan

Another point to consider: We're in an extremely good economy, which means state budgets are as good as they've been in a long time and are likely to be for the foreseeable future and university endowments are also doing well. So one would expect that the number jobs would climb slowly but steadily as we move away from the Great Recession. That they haven't is worrying indeed. One can only imagine what the lines will look like when the next recession hits. (Sorry to be so pessimistic but I think it's worth keeping in mind that job market doesn't exist in a vacuum).

Pendaran

I agree with Sam that once the recession hits, which we're overdue for, that the job market is going to deteriorate considerably. However, I disagree that we're in an "extremely good economy." If the economy were "extremely good" it would be able to support positive interest rates in real terms. What we have is a stagnant and now deteriorating economy, propped up with debt and easy money, and a huge bubble in the stock market caused by malinvestment. In fact, the economy is so weak that the Fed has already started QE4 so interest rates don't rise and collapse the entire system. Anyway, this isn't an economic forum, but I thought I'd correct the record. Anyone considering graduate school in philosophy should be aware that the economic outlook is negative.

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