Unemployment by State: Maximizing Human Capital and Heterogeneous Skills for National Growth

Source: Axios-Neil Irwin

One measure of the economy is the unemployment rate. The goal of government is to keep as many people employed as possible. The other aspect of that is to put people in the most advantageous higher wage earning jobs that increase GDP output. If you have limited resources, i.e. older system of worker headcount, then you will want to expand that through maximize productivity and creativity. 

Consider that each job has value and that in turn can be maximized through education, training, creativity, innovation and technology. Thus, greater focus on maximizing that for long term human capital development and crime reduction is helpful. 

I came across a two articles. One by Axios that has some helpful information and the second article is by the Bureau of Labor Statistics. 

Where the job market is growing and shrinking in the U.S. and Local Area Unemployment Rates.

Michigan isn't doing too bad, you may want to check out your own state. Keeping the unemployment low is beneficial.. We want a little greasing for job mobility but there are lots of people who silently quit the market and are not reflected in the numbers at all. We want them to be engaged and contributory to our society. Anything that detracts from that is likely to cause some issues somewhere else in the economy. These are the soft confounding variables and secondary influences.

This study below also discusses the relationship between unemployment and heterogeneous skills. Its not perfect 1 to 1 but it appears to be statistically significant.  We want to make sure that diversity in skills and people are strong and that it encourages the highest amount of engagement from the broadest sectors of society. They call this broad based human capital development. I like to call it America's Renaissance as technology, science, and human develop match with infrastructure, manufacturing/business (of many types large and small) and drawing back investment in a way that is helpful to society and long term growth. Human capital heterogeneity of the unemployed and jobless recoveries