[Luke Skyfreeper]

This is excerpted because it's a long article, not online yet, and I had to retype every word included. Apologies for typos, but I thought it was important enough of an article to get it out on FR now rather than waiting.

For those here who (like me) have been going through economic hard times, hang in there. It may last another year or two, but it's not going to last forever. Good times are coming again.

[proxy_user]

There is a simple problem with the premise of this article. The baby boomers cannot afford to retire. They married late, had kids late, and bought houses late. Now they will have to keep working.

Well, at least we had our retirement when we in our twenties, and could enjoy it.

[Maria S]

"Former Treasury Secretary and current Harvard University president Larry Summers regards a skilled labor shortage as all but inevitable."

Wasn't Summers the one that replaced Jamie Rubin? Wonder how Bill and Hil feel about their former treasury sec. sounding optimistic about the jobs market improving?

[Drango]

Executives at Cigna, Intel, SAS, Sprint, Whirlpool, WPP, and Adecco...

They and Microsoft, Oracle, Cisco etc can kiss my @$$. TODAY over a million foreigners are in the US on H1-B an L1 visa taking jobs from unemployed Americans. Support of these visa programs has decimated the high-tech graduate programs that are the seed-corn for our future.

Students who were considering majoring in comp sci are going into business or law (shudder). Anything except the wage depressed high tech market.

[RinaseaofDs]

People are also retiring later, and living longer. Lawyers have prompted potential retires to hold on to jobs simply for the benefits.

The bulk of this article is the spin of Clinton era monkeys. I think it is an interesting data point, but I don't completely buy it.

What I DO however buy is that there isn't enough skill in India to absorb demand, necessarily. I also believe that the companies that are outsourcing today are going to have one, big, giant, massive hangover tomorrow.

First question from applicant - "So, have you ever outsourced work either from the department I'm going into, or something related to it?"

If the answer is yes, then either call in another candidate, or get your checkbook, because you will be paying the herkin' bonus.

I think everyone is underestimating the number of people who are going to end up dying with their boots on. They'll work until they're dead because they have to.

[truthandlife]

I guess we shouldn't have killed (aborted) so many babies from the 70's to the present.

[dion]

Sounds more like justification to keep up the HB-1 and L-1 visa numbers to me. (But then I am feeling rather pessimistic about the government and businesses at the moment.)

[dogbyte12]

Ok... let me get this straight. We have 1 million H1B workers, many of whom are replacing american workers who are now unemployed. If companies quit hiring them, what would our unemployment rate in that sector be now?

What is to stop the government from expanding this program to allow 3 million in, to depress wages in our market even further?

There is a point here. We haven't sent enough jobs overseas yet for there not to be enough work here in these sectors. We have instead invited guest workers in at the expense of americans.

Anybody who believes in the great pie in the sky, must have a job that is very secure.

[Tauzero]

"The cause of the labor squeeze is as simple as it is inexorable: During this decade and the next, the baby boom generation will retire."

Or, maybe they won't be able to retire, as much as they would like to.

[GiovannaNicoletta]

Did you guys see this?

[rdb3]

This is excerpted because it's a long article, not online yet, and I had to retype every word included.

You'll have to type the entire article unless you are a subscriber to http://www.business2.com.

[glorgau]

These jokers are just "priming the pump". It is propaganda to ensure that the H1-B and L-3 well doesn't get locked up by Congress.

[Alberta's Child]

This is the second article on this topic that I've seen in the last two weeks.

Even in a place with a comparatively high unemployment rate like New York, the biggest problem that the region faces in the long term is a serious labor shortage. The problem is not just a function of retiring Baby Boomers, but of a society that has gotten so complex that our gene pool is having an increasingly difficult time keeping things working.

[Alas Babylon!]

This scenario would be nice, but I'm wary. An attempt to justify HB-1 & L1 visas, perhaps? I don't know. I teach Microsoft Official Curriculum at a university, and business is finally stating to pick up. Actually, we're starting to look real good after two years barley keeping our program running. I am finding it very hard to keep optimistic when explaining the benefits of a high-tech education to my students. I tell them, hope for the best, but plan for the worst. Here's to hope!

[Sam Cree]

bttt

[IronJack]

The gloating employers who are using these rough times to belabor their employees will be the first ones whining about "loyalty" and "team spirit" when the circle turns. I've seen it before; corporations owe you nothing. But you're supposed to feel like your relationship with them is somehow personal and all oogy-squishy.

Just as they're putting the screws to workers now, they should expect repayment in kind if this prediction comes true. Those companies that respect their staff and treat them humanely should expect similar treatment when the worm turns.

[VadeRetro]

Just around the corner
There's a rainbow in the sky ...
So let's have another cup of coffee
And let's have another piece of pie!

[.cnI redruM]

If we kill H1B, we solve the unemployment problem in 3 months flat. I've actually come to agree with the neonativists on that one. The economy is definately coming back. Let's give US high tech workers first crack.

[the gillman@blacklagoon.com]

Load of crap.

[Keyes2000mt]

Thanks, I tend to not be a free trader, but all of the doom and gloom pings are depressing me in the middle of my job search.

[Mr. Jeeves]

Executives at Cigna, Intel, SAS, Sprint, Whirlpool, WPP, and Adecco... have told Business 2.0 that they, too, worry that the supply of labor is about to fall seriously short of demand.

Partially true. America is full of people who simply don't have the IQ to fill those types of positions (always the main argument in favor of H1B). Those who have the brainpower will likely find a way to prosper, as always. But the "new economy" will no longer offer any way for people with IQ's below 100 to achieve the middle class lifestyle they will see depicted as the norm on television. It's software engineering or Starbucks - and not much in between.

Social unrest will follow.