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THE ENTIRE U.S. WORKFORCE IS BEING DOWNSIZED IN A JOBLESS RECOVERY -- HOW
COME? 'IT'S NOT THE ECONOMY, STUPID, IT'S THE CHIP,' SAYS REPORT FROM
MOUNTAIN LAKES, NJ - Sept. 5, 2003 (Send2Press Newswire) -- The economy
picks up and employment stays down. What's up? On the heels of soaring
productivity, "The American middle class is being sold out in a
decades-long process," says Richard W. Samson, author of a report from
think tank EraNova Institute (www.eranova.com). First America's farmers
got the axe. Then blue-collar workers found themselves on the streets. Now
white-collar employees are getting the heave-ho. Though perfectly legal,
the process is displacing far more wealth than Worldcom or Enron.
The report shows why jobs are being cut even as business recovers. "The
real problem isn't vague economic forces or cheap foreign labor," says
Samson. "It's invisible chips and code." The report documents how today's
technology lets executives create more wealth with fewer and fewer people,
all below the radar of public awareness.
The report, Surviving the Great Global Brain Drain (9/5/03 update),
documents a two-stage "mind-into-technology" trend that threatens to swell
the ranks of the unemployed and working poor. "Unless we change course,"
says Samson, "We could end up like Guatemala, with a filthy-rich elite on
top, peons below, and not much in between." America already has the
highest poverty rate of 13 leading nations -- roughly twice that of
Canada, France, or Japan -- according to the Organization for Economic
Cooperaton and Development (OECD).
In the first stage of the trend, American jobs are going to low-wage
countries. As manufacturing bleeds, white-collar work follows suit.
According to Forrester Research, by 2015, U.S. firms will transfer 3.3
million high-tech and service jobs to India and elsewhere. Even welfare
claims processing has been off-shored -- a practice halted for New Jersey
claims (but not other states') thanks to state senator Shirley Turner.
"The Stage One shift is well-known," says Samson, "Stage Two is the
problem." That's the replacement of low-cost labor by lower-cost
all-electronic systems such as voice recognition, robotics, or
inter-company automation. "Not even an Indian can work as cheaply as a
The EraNova report -- available at http://www.eranova.com/braindrain.pdf
-- offers corporate, governmental, and individual strategies for
preserving America's middle class and sharing the benefits of
EraNova Institute, 142 Morris Avenue, Mountain Lakes, NJ 07046.
Source of News:
New Jersey Business News
Career and Employment Newswire
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