Once again I think market watchers missed the most important news of the day yesterday, because it's the most important news of the millennium and the true American Achilles heel. The Empire State Report was chocked with a lot of useful data on prices, employment and demand.
The supplemental report is what shocked and disappointed me most. The headline was ominous: Firms Cite Increased Difficulty Finding Workers with Math and Computer Skills.
It's really amazing there could be this much trouble finding competent workers. Showing up for work on time and being reliable were things in past generations that were common. I think the problem began about twenty years ago and has gotten worse.
As a business owner, I've heard many reasons over the years for people having to be out or coming to work late, ranging from the implausible to Aesop. There is a direct correlation between people coming in on time, or early and working late, and overall production. You simply can't mail it in even if you have talent.