originally posted by pan6467
Quote:
"There are many reasons why we are having difficulty creating enough jobs for these folks," said Mark Zandi, chief economist and founder of Economy.com. "There is now a global labor market for all workers, low skilled and high skilled. Secondly, employers are reluctant to step up and hire workers who require not only wages, salaries, and bonuses, but also benefits such as healthcare and pensions. If they hire a highly educated and skilled individual now, will they be able to still use that person down the road?"
At the same time, the nation's productivity rate increased by more than 3 percent last year, say economists. They predict gross domestic product will increase by 4 to 5 percent in 2004. GDP measures the value of goods and services produced.
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I believe it was Buckminster Fuller who said back in the '60s that one of the problems we will have in the future is what to do with all the surplus workers. Our productivity would increase to the point where all our goods and services could be provided by fewer and fewer workers. Perhaps we are just seeing the beginning of this.