Robert Samuelson Calls Attention to the Incompetent Management Problem

Robert Samuelson devoted his column today to the problem of structural unemployment. He tells us that many positions are going unfilled, in spite of the high rate of unemployment. In fact, according to the Bureau of Labor Statistics, the job opening rate is just 2.2 percent.

Source: Bureau of Labor Statistics.

Since there will always be some time involved in replacing new workers, this rate can never fall to zero. If the rate were to fall to 1.7 percent, its low for this downturn, this...