This article talks about the increase in the labor market, especially in the manufacturing sector, is only temporary. The firing of large numbers in the automotive industry and the even more emergence of other foreign dramatically cheaper labor markets caused a sharp decline in the labor markets but will not be the cause of stopping of the current growth. Chinas labor market wages have been increasing and the
Sunday, February 26, 2012
Analysis: U.S. factory jobs rebound seen destined to fizzle
This article talks about the increase in the labor market, especially in the manufacturing sector, is only temporary. The firing of large numbers in the automotive industry and the even more emergence of other foreign dramatically cheaper labor markets caused a sharp decline in the labor markets but will not be the cause of stopping of the current growth. Chinas labor market wages have been increasing and the
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The article says that while more factories are adding jobs now, the rate at which they are adding them will slow. This makes sense, because they are recreating jobs that had been there before. However, they do not need as many new people because companies are increasing the use of technology in their factories. The article made the point that presidential candidates should not be promising to protect factory jobs. Since the number of factory jobs must decline to increase productivity, it does not make sense economically to try to protect them.
I personally feel that trying to win back manufacturing jobs is simply unwise. It's true that millions of people lost jobs due to the off-shore production, yet these jobs are usually the most hazardous and health-destroying positions. This is a tough transition for many people whose skills became irrelevant in the market but it's simply the norm - just like how industry have changed the job prospects so many time.
I feel that the best way to deal with the situation is helping them to transition in the new situation through education and professional training. It's simply unwise to revive the dead.
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