"Jobless Recovery" the new norm?

[bluefrog]

Link

Over the past 10 years:

• The U.S. economy's output of goods and services has expanded 19%.

• Nonfinancial corporate profits have risen 85%.

• The labor force has grown by 10.1 million.

• But the number of private-sector jobs has fallen by nearly two million.

• And the percentage of American adults at work has dropped to 58.2%, a low not seen since 1983.

What's wrong with the American job engine? As United Technologies Corp. Chief Financial Officer Greg Hayes put it recently: "Sales have come back, but people have not.''

In a survey of 2,000 companies earlier this year, McKinsey Global Institute, the think tank arm of the big consulting firm, found 58% of employers expect to have more part-time, temporary or contract workers over the next five years and 21.5% more "outsourced or offshored" workers.

"Technology," McKinsey says, "makes it possible for companies to manage labor as a variable input. Using new resource-scheduling systems, they can staff workers only when needed—for a full day or a few hours."

 

[BLAZER PROPHET]

Seems like this ought to be in the OT section.

 

[maxiep]

Let me see if I can try to tie this into a Blazer basketball topic: The owners will recover, and the players will be jobless.

Meh, that's the best I can do.

 

[BBert]

When it is all said and done, the owners and the players will still be unimaginably rich, while the rank and file fans will still be unemployed or underemployed.

 

[bluefrog]

crap. could one of the mods please move this. I pulled an ABM

 

[BLAZER PROPHET]

crap. could one of the mods please move this. I pulled an ABM

Froth with poor puns.