Posted on 06/17/2011 5:35:32 AM PDT by KeyLargo
Diary of a Recession Baby Ruth Mantell
June 16, 2011, 12:01 a.m. EDT
Your well-paid, middle-class job is in danger Some highly paid workers may find they need to switch careers
By Ruth Mantell, MarketWatch
WASHINGTON (MarketWatch) — The job market is changing, and it’s not just manufacturing jobs that are disappearing. Even some highly-paid workers may find themselves needing to re-tool their skills in the years ahead.
The ongoing movement of jobs to countries where labor is cheaper, plus the development of new technologies, may mean fewer opportunities for some well-paid positions in the U.S. over the next decade, said Larry Katz, an economist at Harvard University.
“Employment growth has stopped, or even declined, among many middle- class jobs that are high wage” and don’t require a college degree, Katz said.
“A lot of traditional middle-class, upper-middle-class jobs have been disappearing. If you look at general managers and middle-management jobs, those are ones that have been in decline and will decline further,” he said.
Workers making about $40,000 to $80,000 a year constitute the bulk of labor costs for many companies, and these workers may be on the chopping block, said Jeffrey Joerres, chief executive of ManpowerGroup, a Milwaukee-based staffing services firm. ....
(Excerpt) Read more at marketwatch.com ...
Read the comments on this story here:
http://www.marketwatch.com/story/your-well-paid-middle-class-job-is-in-danger-2011-06-16?siteid=nwhpf
Here is one of 140 comments:
"I live in a small town of 300 people in a rural area.
The average guy earns 30K.
The principal of the school earns 160K.
The school graduated 11 seniors this year.
The average teacher makes 55K.
The principal and the teachers are the highest paid workers in town.
They work 9 months out of the year. "
Same with a group of middle managers at Lockheed....dangling in the wind....
Link to post and view comments on the article:
Not to worry, when inflation kicks in wages will go up....
Job hell! Your [our] freedom is in danger. Your[the] jobs, except for Government approved ones are gone. It is only a matter of time. But, then again, this is what the majority of voters that voted in 2008 voted for. Their wish is about to come true.
1) "The 80s" -- I think that means Ronald Reagan
2) Laissez-Faire economics
3) Corporate America
4) The GOP
I think that quite a few people who are suffering right now will eagerly push for Obama to get a second term so that he can continue "turning the economy around".
You forgot about the value of the educators defined benefit pension plan. How much $ do you think a private sector employee needs to have saved on day 1 of his retirement to match the cash flows of the government retirement plan? Good luck attaining that on $30k/yr.
Middle class JOB paying 40 to 80 grand a year have been disappearing since the end of GH Bush era in the early 90’s.
Difference then, many laid off employees starting their OWN small companies and many were able to succeed.
Since the Dems took congress in 2007,anyone laid off who tries to start their OWN business is immediately burdened with all these new regulations and an absolute ridiculous tax code that grows every year.
Jobs will continue to disappear because of globalization but the government needs to STOP making it difficult for those with incentive to create their own path.
JMO...
This does not have to be.
Wages are set by demanding a certain level, and either you get hired, because you will earn MUCH more money than the employer is paying you, or not hired at all, because you cannot earn as much for the employer as it takes to pay the costs of keeping you employed.
And the costs of keeping a person employed are rapidly reaching the point, or already have, where it is not economically feasible to hire or retain the marginal producer.
A simple truth, but one which this regime seems totally unable to grasp.
Why are employed people in this country paid so much more than those, say, in China? Becuse there is a multiplier effect on productivity when plentiful and relatively inexpensive power is available. Which means the conversion of so-called “fossil fuels” into useful forms of energy.
And yet, the “fossil fuels” are coming under ever more restrictive regulations on their extraction and use, greatly diminishing the multiplier effect they would otherwise have.
The Lorax of Dr. Seuss was altogether too effective as an anti-consumption propaganda gimmick.
This is only true if you have a well paying middle class job (is that well paying or good paying?). Many are unemployed.
In D.C. the economy is humming. The homeless wear new nikes and eat steak.
As far as Obama can see, the economy is cranking at full speed.
Yep.
It'll never happen, but the answer to this is to simultaneously slap huge tariffs on American companies that manufacture or otherwise move jobs overseas, coupled with the elimination of capital gains taxes and other disincentives to investment here. Combine this with a successful "Buy American" campaign.
Like I said, it'll never happen, unfortunately.
As though O spends any time is our nation’s capital. Hahahaha. That’s a good one.
Another Harvard genius. Tell the I.T. community that their jobs are heading overseas and you’ll get a “what-rock-did-you-crawl-from?” look.
IMHO, Globalization is a race to the bottom. When we take jobs to China/India - we raise the average income there. That means that someone loses a job here. So jobs that pay $80K here, will transfer to China/India where they will increase wages - until everyone settles to an average in the $25-40K range.
India and China will grow in strength; and we are cutting our own throats. After all, 'we just know' that they would do the same for us, if they were the Superpower. Someday soon; we are going to find out - and I for one will NOT be surprised when we are invaded and eliminated.
Five years ago, they said the same thing about the pharmaceutical industry.
Still bringing in many H1-B’s to fill those “unneeded” jobs in my industry. It’s funny how we never seem to hire any of the millions of laid off Americans that could fill them.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.