Green Shoots Scenario: Onshoreable jobs

Filed under: Forecasts, Good news, Economic data, Housing, Financial Crisis

Markets were mixed and downish Tuesday, but there was some good news to be found.

Housing starts and building permits soared, causing a big pop in shares to battered homebuilders. Whether this is a false start or a real jump, its hard to get anything but good news out of a housing market so beaten down.

On the industrial side, the Produce Price Index remained relatively stable, walking the narrow path between two evils -- deflation and inflation.

And some interesting food for economic thought from economist Richard Baldwin: Baldwin questions the huge number of jobs (tens of millions) that prominent Princeton economist Richard Blinder says are likely to be "outsourced." In fact, Baldwin thinks that many of those jobs will ultimately return to the U.S., something he calls "insourcing," as jobs are moved closer to markets for various reasons. Baldwin estimates that the U.S. could actually be a huge beneficiary of insourcing -- some positive news for U.S. job hunters!

Alex Salkever is Director of Research at Piqqem.com, a stock research community powered by the Wisdom of Crowds.

Green Shoots Scenario: Onshoreable jobs originally appeared on BloggingStocks on Wed, 17 Jun 2009 08:00:00 EST. Please see our terms for use of feeds.

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