A Saint Louis University economist thinks he has found a key to growth for St. Louis.
Professor Jack Strauss presented his findings this afternoon from an economic study that shows a direct correlation between an increasing immigrant population and economic growth. The study was originally released in June.
He says he thinks it is likely that the city’s economic slump is partly due to a dwindling number of immigrants living in the area. Four and a half percent of St. Louis’ population is foreign. In other large cities, that number is closer to 18 percent.
A job fair was held at the The Walter E. Washington Convention Center in Washington, D.C., last month. The U.S. unemployment rate declined in August in part because the number of "discouraged workers" climbed.
Credit Courtesy of Geoff Dutton
Geoff Dutton, an unemployed software developer, has given up on finding a job. He says the market has shifted, and he could not keep up. "I wasn't up on the new version of everything anymore," he says.
The U.S. population is growing. In normal times, the labor force — working or not — would be growing too. But these are not normal times, and the labor force is actually smaller than it was four years ago, meaning millions of people who should be there aren't.
The reasons people drop out of the workforce are myriad. People go back to school. Others have health issues or family priorities that keep them from looking for work. But some stop looking because they are discouraged.
In his New York Times Magazine column this week, Adam Davidson writes about the surprisingly tough business of making ultra-high-end men's suits. For a broader look at the suit business, we asked Salvatore Giardina, an adjunct professor of textile development and marketing at the Fashion Institute of Technology, to give us a rough breakdown of what goes into making the three main types of men's suits - off-the-rack, made-to-measure and bespoke.