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JOBS IN THE 21ST CENTURY
They say we are in a jobless economic recovery. Actually, this situation has been a long time coming. Technology and outsourcing/offshoring have allowed corporations to manage their operations with a lot less employees. Wall Street has demanded that corporations layoff staff to improve profitability. 42% of our economy now come from financial services as opposed to manufacturing which hires more employees and can offer more jobs to those without a college degree.
Cities and states are laying off teachers and other support staff in an effort to balance their budgets. The US requires the creation of 120,000 new jobs each month just to keep up with the increase of the labour pool graduating from high school and college.
Not all is doomed however. High tech hiring is still a bright spot with some specialities is high demand. But the writing is on the wall! Like everywhere else, technology itself is allowing companies to hire less at lower cost. This is true even in the health care industry which is poised to benefit greatly from an increased use of technoogy. The growth in the use of open source means less programmers with less experience can build very good products in a shorter space of time. So, employment contracts are shorter with a lot less guarantees.
It is not difficult to see where these trends may lead us. There is now no such thing as a steady or stable job. In addition, we are likely seeing a race to the bottom as far as wages go.