McKinsey Presents: 9 Scary Facts About The Unemployment Crisis

Business Insider ^ | 06/17/2011 | Linette Lopez

[SeekAndFind]

The United States will have to create 21 million jobs in the next 9 years to reach full employment, according to a study from the consulting group McKinsey.

The report details how this is going to be a long slog. It will take 60 months at our current growth rate to return to pre-recession employment levels, according to the report. And that doesn't even count all those new employees entering the workforce. More Americans will need to go back to school to get these new jobs, with McKinsey estimating that the market needs 1.5 million more Americans with undergraduate degrees. More worrying: the U.S. could shed 6 million workers without high school diplomas by 2020.

They highlight six sectors ripe for growth: healthcare, manufacturing, retail, construction, leisure and hospitality, and business services. They make up 66% of the labor force now, and will make up 85% of the jobs created this decade.

But while many are trying to get back to work, companies will continue to streamline their teams due technological advances that mean they can do more, with less.

[familyop]

"...the market needs 1.5 million more Americans with undergraduate degrees...manufacturing, retail, construction, leisure and hospitality..."

LOL! Pay hundreds of thousands of dollars to learn how to get along at work with the social pathologies of the elite along the way to default.

Meanwhile, Congress is trying to figure out how to raise the debt ceiling before August 2nd without everyone noticing. Only Congress has the power of raising or cutting most spending. Each congressman has his state and locale, which states and locales want that continuous flow of money for incomes for their various offices.

And meanwhile, the peasants aren't buying, building or even driving around much.

[familyop]

"The unemployment rate varies widely across the United States"

That chart is really funny. The area where the unemployment rate is low is nearly uninhabited. There are almost no people in those places.

[11Bush]

There are almost no people in those places.

But both of them are working!

[kabar]

We are going to add 130 million to our population in the next 40 years, 75% due to immigration. And remember, even the younger workers grow old and will also go on to the retirement programs.

You don't change demography overnight. Currently we have a fertility rate of about 2.1, which is replacement level. Unless you double or triple your intake of immigrants, most of whom today are poor and uneducated, you are not going to change things.

100 Million More: Projecting the Impact of Immigration On the U.S. Population, 2007 to 2060

[kabar]

We are going to add 130 million to our population in the next 40 years, 75% due to immigration. And remember, even the younger workers grow old and will also go on to the retirement programs.

You don't change demography overnight. Currently we have a fertility rate of about 2.1, which is replacement level. Unless you double or triple your intake of immigrants, most of whom today are poor and uneducated, you are not going to change things.

100 Million More: Projecting the Impact of Immigration On the U.S. Population, 2007 to 2060

[Loud Mime]

From what I’ve heard from someone in the know, Obama is setting up loads of imports of new political refugees. We will soon be swamped with many immigrants.

[Wuli]

I am not disagreeing with you, or anyone else, who says that, one way or another, Social Security will either implode or drain the life of all active workers.

MY ONLY SINGLE POINT WAS

as bad as it looked before, it now looks worse!!!!!

[kabar]

As bad as SS is, Medicare is ten times worse.

[Wuli]

“As bad as SS is, Medicare is ten times worse.”

You got that right.

[longtermmemmory]

or employers are overtaxed, over regulated, and fed up with government intrusion.

based on your statement, it would be more competative to just eliminate the taxes at issue and level the field.

[kabar]

You mean SS, Medicare, and unemployment benefits?

[CommieCutter]

From the article/chart.

“The only way we can put everyone to work is by seriously ramping up job growth”

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That’s hilarious. Did Yogi Berra write this?