February 7, 2014
The world economy is changing as technology and globalization is transforming the marketplace. The impact has effected men which is understandable as the majority of jobs were held by men. As the intelligence age shifts the economy there is a need for different types of workers. This shift toward information reveals “More Men in Prime Working Ages Don’t Have Jobs Technology and Globalization Transform Employment Amid Slow Economic Recovery” this shift will change the nature of the workforce and who is underemployed.
The data reveals “more than one in six men ages 25 to 54, prime working years, don’t have jobs—a total of 10.4 million. Some are looking for jobs; many aren’t. Some had jobs that went overseas or were lost to technology. Some refuse to uproot for work because they are tied down by family needs or tethered to homes worth less than the mortgage. Some rely on government benefits. Others depend on working spouses.” View Graphics
Having so many men out of work is partly a symptom of a U.S. economy slow to recover from the worst recession in 75 years. It is also a chronic condition that shows how technology and globalization are transforming jobs faster than many workers can adapt, economists say,” reports the Wall Street Journal.
This appears to be a U.S. problem but when you look at this problem through a sustainable lens it is a world problem. When under employed professionals leave the U.S. and seek work across the world this creates additional concerns. The effect is the loss of men on the economy and their families producing a vacuum that other nations will have to fill. The U.S. will learn what other nations have experienced, the mass movement of its citizens is a possibility.
The trend has been building for decades, according to government data. In the early 1970s, just 6% of American men ages 25 to 54 were without jobs. By late 2007, it was 13%. In 2009, during the worst of the recession, nearly 20% didn’t have jobs.
Although the economy is improving and the unemployment rate is falling, 17% of working-age men weren’t working in December. More than two-thirds said they weren’t looking for work, so the government doesn’t label them unemployed. The January snapshot of the job market is due Friday. For women, the story is different. In the 1950s, only about a third of women ages 25 to 54 had jobs. That rose steadily until the 1990s, and then leveled off for reasons that aren’t clear. At last tally, about 70% were working; 30% weren’t.
Although 10,000 baby boomers turn 65 every day, these unemployed men are too young for conventional retirement. Many are closer to the start of their working lives.
This is not only a U.S. issue but a global one as underemployed persons move across the globe for work. The jobless rate of men is unsustainable and the rising jobs of women is not necessary positive as physics show counter balance always occur.
Women are progressing in work yet, making $0.77 to the dollar of a man. Now women are called to take care of the entire family this is not healthy for women. Women traditionally have been taking care of the family and now are called to be the bread winners. This transition will slow down the growth of women, locking them into jobs with the inability to climb the economic ladder.
Men who have held jobs are now understanding the predicament of job alignment and scarcity. Men over history have not been a part of systemic slow down. The shift will prove to task healthcare as the rise of jobless men will seek various forms of counseling to restart their lives.
The continued instability of the job market is unsustainable and masking bigger problems on the economy, education, state of women and the family, as well as world economy to absorb mobile professionals.
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