A Generation of CEOs Who Don't Know How to Raise Wages

(Photo: s_falkow; Edited: JR / Truthout)

Monday 24 October 2011

by: Dean Baker, Truthout | Op-Ed 

 

Those who follow the rants from our business leaders and their allies in politics and the media have been struck by a disquieting cry in recent months. We have been repeatedly told that, even though we have more than 25 million people unemployed or underemployed, businesses are unable to find qualified workers. 

 For example, last week New York Times columnist Thomas Friedman took us to Illinois, where Doug Oberhelman, the CEO of Caterpillar, one of the largest companies in the country, complained that he could not find qualified hourly workers for his manufacturing facilities. Oberhelman went on to complain that he also could not find engineering service technicians, or and even welders.

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