What are going to be the new jobs that will provide middle class wages for the next 20 years. I see unemployment rising and underemployment to continue to grow. Right now Blue collar industrial jobs are not going to grow, and will shrink as more factories close down. White collar jobs will continue to stay stagnant or shrink as other countries take those jobs (ie engineering/programming to india etc..) Construction jobs will continue to shrink because there is only so much left in regards to building out. Extreme high college costs and housing expense make our population not cost competitive either. So what will lead the new job growth?
New technology and new innovation will dictate where job growth will come from. What will those new technologies and new innovations be? Nobody knows, but rest assured they will come. How long it will take and in what industries are the only variables. If I had these answers I would plow my life savings into these industries.
this is really going to get terrible . I read for every PHd in physics. .there are 17 lawyers graduating and 61 MBAs. graduating. not many folks are impressed by hard work in Science and research. it looks like in the next 10 years.. u will find folks with MBAs flipping burgers . seriously. look what happened in FLorida. where half the population was employed due to the housing boom. what happened after the bust..? now many counties dont have tax revenue to maintain schools. libraries and roads. middle class america. is getting decimated.. DEFLATION is guaranteed.. look at the FIRE sale. prices of everything surrounding us .
So if deflation hits wont that mean homes for 25,000-40,000 dollars, 2 liter coke for 59 cents etc.. so even if the only jobs are left pay low wages, it will not be a big deal because prices will meet these levels?
spot on, the no growth left crowed stumbles in there own arrogance as if their experts in every field known and unknown
Everyone talks about Indian engineering. With engineering you get what you pay for. Need someone to design a toaster? No problem, get an Indian engineer. Need a kinetic energy weapon to strike an incoming intercontinental ballistic missile in ascent phase? Better call the Americans.
This is so true... it still amazes me that people believe so strongly that cutting edge research and innovation will come from India and China... Take it from someone who used to work with several Indian and Chinese scientists/engineers... they're not all they're cracked up to be. Sure there are some that stand out from the rest, really bright and creative ones. But for the most part, on average, they're no smarter and no more talented than american engineers. That said, the major hurdle IMO is culture and language, which more than offsets the "cheaper" labor costs. It takes 10x more time and energy to properly communicate and collaborate on something complex and difficult with a poor-English speaking person... especially with regards to complicated technical projects. Personally, (and this likely sounds racist), I would hire an American schooled well spoken (in English) engineer over a cheaper foreign engineer with similar technical credentials. I've found that direct and efficient communication is worth its weight in gold over the long term. Of course, I'm not in the business of designing toasters either . I would tend to think that many employers are acknowledging this communication issue as well.