The current recession has placed millions of Americans on unemployment. Unfortunately, men of color are almost always one the first groups let go when there are massive job losses in the country. Furthermore, this group always has had a much higher unemployment rate than other groups in the country.
Many of the jobs being lost today may actually never return. Some are calling this recession a "Mancession" because most of the job losses today are affecting men.
With the millions of jobs lost in the last 2 years, it is difficult to understand a situation that would allow many companies and industries to reach the same level of employment as in the past. Another issue is that American global economic power is shifting to places like China which is another reason for many lost jobs. In places like China, the salary paid to a factory worker (calculated as less than $1 per hour back in 2002) is much lower than the salary paid to an American factory worker.
Jobs created by the booms in the housing and credit markets, for example, have likely been permanently erased by the subsequent bust. Manufacturing jobs in the auto industry have lead the manufacturing sector in the country in job losses.
The finance industry which usually offers many high paying jobs has lost more than 500,000 jobs during this recession and will be under more pressure to layoff more employees. After all, more than a hundred banking companies have closed their doors since the recession started.
This past November, there were 36% fewer people working in record shops than two years earlier, according to the U.S. Labor Department. There were 23% fewer people working at directory and mailing list publishers, and 46% fewer at photofinishing establishments. Those are jobs that, with the advent of mp3 recordings, Google and digital photography, were likely disappearing anyway.
The recession also provided companies with an opportunity to cut jobs no longer as critical as they once were. That may be particularly true of the secretaries and mail room clerks since advances in information technology have made these jobs less necessary.
The ranks of people doing office and administrative work have fallen more than 10% since the recession began. Many of these jobs are being affected by the new information age, and they are being automated.
Many of the jobs being lost today may actually never return. Some are calling this recession a "Mancession" because most of the job losses today are affecting men.
With the millions of jobs lost in the last 2 years, it is difficult to understand a situation that would allow many companies and industries to reach the same level of employment as in the past. Another issue is that American global economic power is shifting to places like China which is another reason for many lost jobs. In places like China, the salary paid to a factory worker (calculated as less than $1 per hour back in 2002) is much lower than the salary paid to an American factory worker.
Jobs created by the booms in the housing and credit markets, for example, have likely been permanently erased by the subsequent bust. Manufacturing jobs in the auto industry have lead the manufacturing sector in the country in job losses.
The finance industry which usually offers many high paying jobs has lost more than 500,000 jobs during this recession and will be under more pressure to layoff more employees. After all, more than a hundred banking companies have closed their doors since the recession started.
This past November, there were 36% fewer people working in record shops than two years earlier, according to the U.S. Labor Department. There were 23% fewer people working at directory and mailing list publishers, and 46% fewer at photofinishing establishments. Those are jobs that, with the advent of mp3 recordings, Google and digital photography, were likely disappearing anyway.
The recession also provided companies with an opportunity to cut jobs no longer as critical as they once were. That may be particularly true of the secretaries and mail room clerks since advances in information technology have made these jobs less necessary.
The ranks of people doing office and administrative work have fallen more than 10% since the recession began. Many of these jobs are being affected by the new information age, and they are being automated.
1 comments:
Retraining, thinking out of the box, and possibly traveling down a new path to reach one's career and financial goals will be required if men of color plan to participate in this countries opportunities as employees, managers, or business owners in the future.
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