Now that the recession is over, I still see stores closing and college graduates not finding jobs. I don’t think many people realize how much the economy has changed in the last 25 years. The fact that the market place is global means that what happens in one country can quickly affect many others. It’s not just the U.S. is healthy, so it doesn’t matter how Europe and China are doing. Greece going bankrupt and England’s Brexit caused the stock market to tank as soon as it hit the news. When the Civil War ended, it took weeks before some towns and states learned the war was even over.
The great statistics about the recent growth of jobs usually fail to note the new hires are mostly in the service sector at the low end of the pay scale.
We have gone from a manufacturing based economy to the information age.
Manufacturing and jobs go where the cost is cheapest. As much as it makes people angry, and feeling like they have no control over their lives anymore, it would be suicidal for businesses to ignore the fact. That is why the middle class is shrinking, the wealthy are getting richer, and the poor are poorer. Unless you own your own company that can adapt to the changes in the world, or are highly and specifically trained, there is a good chance that you won’t like the job you can get, or can be downsized at any time.
The 40/40 plan isn’t what it used to be………………
It used to be that going to college meant you would at least be able to get a decent job and support a family. When I was growing up, my father worked and my mother stayed home with 4 children. We had 2 cars, owned our home, went on family vacations, and all of us went to college without student loans. A decent job had health insurance and a pension if you stuck around long enough. Oh, and people could save money, too. None of us walked a mile in bare feet in the snow either!