Unemployment cause and cure

How did unemployment grow to such devastating levels? The short answer is that, for decades, America’s been moving from economic bubble to bubble, and now, there are no more bubbles to save us. The Reagan-era unemployment, which was as bad as ours, was cured by the mass migration from manufacturing to service-sector jobs, moving from tradesman to hamburger-flippers, from longshoremen to checkout clerks. Later we were rescued from the recession of the early '90s by the dot-com boom, which busted just as the last decade’s real estate explosion took hold. The bill for that came due in September 2008, and here we are, in desperate need of magic bullets.