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garyngng
Joined: 28 Apr 2009
Posts: 226
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 Posted: Sat Nov 07, 2009 10:12 pm Post subject: |
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Most people, including analysts, failed to realise is that, most of those retrenched or laid off, were given a large payout.
There is no real hurry to look for another job when you r sitting on a bunch of cash - hence the poor job numbers. It is a lagging indicator of economic recovery.
By the time they run out of money and stop spending, they start looking for work, that is when the unemployment numbers improved, but the economy would then weaken, as these people stopped spending. |
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grandmaster89
Joined: 27 Mar 2009
Posts: 1581
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| Posted: Sat Nov 07, 2009 9:21 pm Post subject: Re: Why unemployment may be a good sign of growth. |
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| freed0m wrote: | | grandmaster89 wrote: | We are going to have a jobless recovery.
Based on the newspapers interviews, I am under the impression that most of the job cuts affected the lowly-educated people who lack the necessary skills to adapt in the new global economy. Perhaps most of the jobs lost were the unnecessary ones which can be replaced by machine or in too much supply. Wouldn't this 'forced' corporate down-sizing bring about greater efficiency and productivity since companies are trimming down on the excesses. |
hope when you are old and your education is useless, you still can think the same.
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Thats why our world class leaders always ask us to upgrade our skills in good and bad times.
I don't think the rural or unskilled american workers did. Those jobs were abundant at the peak of our world economy in 2007 as it was far cheaper to hire low level help as opposed to changing the entire company manufacturing chain, improve the technology or increasing the paycheck of a worker in return for him to take up more responsibilities. However, in light of the complete over-haul of the economy where sales lines are in pressure, those jobs are now redundant as it becomes cheaper to get a machine to do it or hire 1 guy to do 3 person jobs.
It is desire to maintain the profit margins by cost-cutting that will spur companies to improve in themselves and in their technology. This will fuel the next economic growth. |
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wuxinxing
Joined: 29 Aug 2009
Posts: 47
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| Posted: Sat Nov 07, 2009 9:14 pm Post subject: Re: Why unemployment may be a good sign of growth. |
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[quote="grandmaster89"]We are going to have a jobless recovery.
Based on the newspapers interviews, I am under the impression that most of the job cuts affected the lowly-educated people who lack the necessary skills to adapt in the new global economy. Perhaps most of the jobs lost were the unnecessary ones which can be replaced by machine or in too much supply. Wouldn't this 'forced' corporate down-sizing bring about greater efficiency and productivity since companies are trimming down on the excesses.[/quote]  It is quite true that US corporations have become more productive and future earnings will show these in real terms! The lower end jobs must be lost or moved elsewhere to cheaper labour countries like China,Vietnam,India! As our SG leaders were telling during last time about the job loss due to structural unemployment and those jobs will never come back once economy bounce back! We were lucky to help ppl to move up or switch skills and career so that this time the aftermath was not so gruesome! US will have to learn SG example. |
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freed0m
Joined: 09 Jan 2008
Posts: 2657
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| Posted: Sat Nov 07, 2009 9:11 pm Post subject: Re: Why unemployment may be a good sign of growth. |
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| grandmaster89 wrote: | We are going to have a jobless recovery.
Based on the newspapers interviews, I am under the impression that most of the job cuts affected the lowly-educated people who lack the necessary skills to adapt in the new global economy. Perhaps most of the jobs lost were the unnecessary ones which can be replaced by machine or in too much supply. Wouldn't this 'forced' corporate down-sizing bring about greater efficiency and productivity since companies are trimming down on the excesses. |
hope when you are old and your education is useless, you still can think the same.
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grandmaster89
Joined: 27 Mar 2009
Posts: 1581
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| Posted: Sat Nov 07, 2009 9:06 pm Post subject: Why unemployment may be a good sign of growth. |
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We are going to have a jobless recovery.
Based on the newspapers interviews, I am under the impression that most of the job cuts affected the lowly-educated people who lack the necessary skills to adapt in the new global economy. Perhaps most of the jobs lost were the unnecessary ones which can be replaced by machine or in too much supply. Wouldn't this 'forced' corporate down-sizing bring about greater efficiency and productivity since companies are trimming down on the excesses. |
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