2/28/2005

Half-full or Half-empty, where is employment going?

Worker satisfaction has declined in the past few years. The article Half-full Half-empty, stated that the income and age group the most dissatisfied with their jobs were income ranging from 25,000-35,000 a year and age 35-44. The age group that was the most satisfied with their jobs was ages 65 and older. It stated that the reason for the long-term decline was because of technology and the increased demand for productivity, and the short-term were issues like bonuses and compensation packages. It also stated that the baby boom generation will be leaving the work force soon and that the new generation of young workers will be just as unsatisfied but will be able to put up with technology changes. I really think that the new young generation will have a lot to pick up. The job market is going to expand so big, and younger generations are going to have to pick up the excess demand of production that will exist when a large working force leaves. I think that the younger generations are going to demand more bonus packages and higher pay, but companies aren’t going to afford it. It will be interesting to see how it will all pan out.

4 comments:

Diane said...

I would be dissatisified too if I was 35-44 and still earning only $25,000-$35,000. People 65 and older must like their jobs if their still working.

Technological advances have expanded the market. We must now be competitive on an international level. Many companies no longer offer pension plans largely due to a lawsuit in California. Businesses are not as willing to offer these benefits. The work load is continually increasing. The job market will be different for us than what it was for our parents.

sam said...

I think it will be really interesting to see what happens to companies as the workforce declines. Will some of the companies close shop or will they turn to the internet with a workforce of robotics? Either way shows a promising future.

Jim said...

This reminds me of a blog posted a few weeks ago about baby boomers. Personally, the economy has a mind of its own because we make the economy what it is today. If the younger generation is looking for more money, and the businesses were to pay this demand, then more money will be in circulation. Thus inflation will rise. If we were smart, we would all ask for lower salaries then inflation will come way down and we would be paying .85 cents for gas again.

Dr. Tufte said...

I'm sympathetic to the view expressed in the original article, but I really wonder if the methodology underlying it is sound.

Think about it: who wouldn't "voice substantial discontent with their companies' bonus plans, promotion policies, health plans and pension benefits"? This is just scarcity. There isn't any sense in which those polled were asked about tradeoffs. There was nothing in the article about hours that were worked, or working conditions - that help generate the money to pay those sort of benefits.