Labor surplus in the US, good or bad news for the coming generation?


I read this article on 7/2/14, “U.S. Will Have Something Other Countries Want: A Big Labor Surplus.” This is from the article.

“Over the next 15 years, the U.S. will have a problem that plenty of other countries would love to have: too many workers for the jobs available. That’s according to a report released today by the Boston Consulting Group.

Idle labor isn’t a good thing, especially for the unemployed workers. But you could argue that it beats the alternative, which is having so few workers that jobs go unfilled and economic output falls short of potential. That’s the problem that most other major nations, from Germany to Brazil to South Korea, will face between now and 2030, according to the BCG report.

A relatively high birthrate and liberal immigration policy give the U.S. an advantage in labor supply.”

It seems like a bad thing when you have many people competing for a limited number of jobs in the market. Still, I would say there is always market for really skilled people, people with needed expertise.

Yes, the key to the problem is to be above the average. When you rise above the average, you will face less competition and more opportunities. Go ahead and meet the challenge!

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