Skill Crunch

Megan writes about a recent paper which argues that it's not just an over-supply of college grads that has BAs waiting tables -- the number of skilled jobs has actually been dropping since the dot com boom.

It seems to me that in general history shows an increase in skilled work as the economy becomes more specialized, but this increase is not smooth but rather choppy, such that at a given time one may see the supply of skilled jobs shrink.