Greenspan notes 'unease' about jobs
Central bank chairman says worker education is the key to helping displaced workers find jobs
http://money.cnn.com/2004/02/20/news...ex.htm?cnn=yes
Some highlights
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NEW YORK (CNN/Money) - Federal Reserve Chairman Alan Greenspan said Friday that the steady movement of U.S. jobs offshore should help the economy in the long run, but that American workers needed to be better-prepared to take whatever higher-skilled jobs come along to replace the lost jobs.
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"The capacity of workers, after being displaced, to find a new job that will eventually provide nearly comparable pay most often depends on the general knowledge of the worker and the ability of that individual to learn new skills," Greenspan said.
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Still, many economists also believe that the effects of globalization and technological advance could keep hiring less robust than in other recoveries. The prospect of further labor-market pain has led politicians of both major parties to talk increasingly of protectionist measures that would limit free trade.
Greenspan, in his speech on Friday, warned that such measures would be counterproductive.
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Greenspan, for all his education, has no clue.. Do you tell someone who just lost his or her job to a new call centre on the other side of the earth that "dont worry, your grand children may live better lives for this" and " you may even 'eventually' find 'comparable' wages!!
Im insulted by the idea that Greenspan thinks that what people do is so "low tech" that it must be gifted away to other continents as a gift, so North America can reap the rewards of BETTER tech (and even with this reasoning, tech support supports all technology, and programming programs all technology)
Go back to your gentlemen's club Greenspan, at least there your ivory tower futurists can agree with you..
bah
(yes, Im in technical support, yes there is a constant fear that some day my job will be in the pacific rim, and yes Im slightly bitter at all my friends at other companies losing thier jobs and being told to "buck up"