The Milken Institute’s Global Conference is taking place this week in Los Angeles, and one of the many discussions/debates — a complete list of which you can find here — was entitled, “Jobs, jobs, jobs.”
The panel included Ron Bloom of the U.S. Treasury Department and Carly Fiorina, former CEO of Hewlett-Packard. The lengthy talk delves into policy decisions made by the Obama administration that impacted the labor market and how to spur the auto industry and U.S. manufacturing.
Early in the discussion, Ross DeVol of the Milken Institute makes an important point: Layoffs (or job destruction) haven’t been the key reason for a weak labor market during the recession, though they certainly have played a part. More important has been the lack of job creation.