The Job Shortages of the Future Cometh, Let Me Explain

Before the 2008 economic collapse and crisis there were many industries with job shortages, today, that seems almost unbelievable but it’s true. In fact, there was a brief period, a couple of years, where unemployment was so low that the big challenge was keeping all the workers happy so they wouldn’t quit, literally bribing “twenty-somethings” to actually show up to work on time or at all. Seriously, it got that bad, few recall that now, but that’s exactly what happened.

During that time economic analysts were projecting job shortages in almost every major industry from Health Care to Air Traffic Controllers, and from Police to Truck Drivers. So where are we today? Well, right now there are a large number of people out of work, still looking and some 4.6 workers for every job opening, even when the job opening might be in North Dakota to put in a pipeline when the unemployed worker worried about the ending of his unemployment benefits, paying college tuition for kids, and keeping up on his mortgage lives in Sacramento.

Not long ago, I was talking to an acquaintance who believes that even when the economy does pick up there will be the same problem predicted before only much worse. Now then, I agree with his statement and comment, but let me explain why.

You see, I read about the dire predictions the other day in the WSJ, and comments like this have been all over the Trade Pubs too, and Industry Week had an article of Manufacturers complaining about the lack of skilled workers to run assembly lines putting together a variety of products, some high-tech, some not so high-tech. What should we do? Some say we need job training programs to fill the gap, so let’s talk about that.

Indeed, if the government subsidizes college, tech, and trade schools, in a way that’s corporate welfare, of course in the end the robots will win. You see, China’s wage inflation is pegged at 15-20% per year ouch. It’s even outpacing our college tuition rates, and increases in health care costs here in the United States. Some economic analysts predict their loss to be our gain as the costs to manufacture in China come back to the USA.

I would hold short on that, as those jobs are the less skilled ones and even if the costs were triple for labor there, we still can’t compete for those jobs here. Ah but Mexico and other nations can. Yes, what a dilemma indeed. It’s not that the Industry Week article was wrong, we do have a challenge with skilled labor, and it’s not just here, also in the UK, and throughout the EU too. And, it’s only going to get worse I fear, and we will have to figure out how to deal with it all soon enough.

Source by Lance Winslow

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