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2010-08-10 We Are The Network: Why is the “Economic Recovery” of 2010 Jobless?

August 8th, 2010

Aug 9, 2010 – added links:
NY Time Op-Ed by Timothy Geithner “Welcome to the Recovery”
CS Monitor by Bill Bonner “Welcome to the Recovery? No, Mr. Geithner, the Twilight Zone.”
Human Capital League by Gautam Ghosh “10 Ways Work will Change over the Next Decade”

Why is the “Economic Recovery” of 2010 Jobless?

Please join our global discussion group
every Tuesday at 12pm noon U.S. Pacific / 3pm Eastern time

This Tuesday, Aug 10th at the Epoch Institute in Second Life

Click here to teleport to the Epoch Institute in Second Life
http://maps.secondlife.com/secondlife/Wells/97/56/27

This Week’s Topic

Why is the “Economic Recovery” of 2010 Jobless?

The “economic recovery” of 2010 has been good for Wall Street and the financial markets, and essentially non-existent for jobs, housing valuations, foreclosure and personal bankruptcy rates. Unlike recent recessions, where job recovery lagged, but could be measured in months, predictions suggest that a return to previous unemployment levels will likely take years.

Why is this recovery jobless in a long-term, persistent fashion that has not been seen for decades? Pointing at one symptom or cause at a time makes good press. It makes good politics. It is also a highly simplistic view of the problem .

What are the key trends and drivers for the jobless nature of this recovery? What part of the jobless nature of the recovery is due to offshoring, technology, global wage and cost inequity, politics, the behavior of financial institutions or are the key drivers elsewhere entirely?  Is the current state of the job market an indication of a very slow recovery, or of the start of a double-dip? Will the jobs lost be recovered, or is job recovery based on creation of new job markets (that themselves will not be supplanted by technology)?

Some commentary points to the elimination of middle class job opportunities as an outcome of current trends. If that is the case, will the restructuring stop there, or is this the start of a continuing erosion that will wipe out jobs at ever-higher levels of the work complexity and skills pyramid, until only a small fraction of careers are left?

Join us Tuesday at 12PM noon U.S. Pacific / 3pm U.S. Eastern time for an interactive discussion, and thanks for being part of “We Are The Network”!

If you do not have a Second Life account and would like a quick start to attend the session, please contact me for more information.

Best regards,

Joel

Reading links below – have fun and see you soon!

Global Outsourcing and the Disappearing Middle Class, William Raynor (SUNY)
http://www.newwork.com/Pages/Opinion/Raynor/Middle%20Class.html

10 Ways Work will Change over the Next Decade (Human Capital League)
http://humancapitalleague.com/home/8131

The Sagging Middle Class, by Nancy Folbre (The New York Times)
http://economix.blogs.nytimes.com/2010/06/14/the-sagging-of-the-middle-class/

Will Middle-Class Job Prospects be Wiped Out by the March of Technology?, Mark Kobayashi-Hillary (Silicon.com)
http://www.silicon.com/technology/it-services/2010/05/26/will-middle-class-job-prospects-be-wiped-out-by-the-march-of-technology-39745858/

Economic Collapse Permanently Destroys Middle Class Jobs, David Calderwood
http://whiskeyandgunpowder.com/economic-collapse-permanently-destroys-middle-class-jobs/

Welcome to the Recovery, Timothy Geithner (NY Times Opinion)
http://www.nytimes.com/2010/08/03/opinion/03geithner.html?dbk

Welcome to the Recovery? No, Mr. Geithner, the Twilight Zone, Bill Bonner (CS Monitor)
http://www.csmonitor.com/Money/The-Daily-Reckoning/2010/0808/Welcome-to-the-recovery-No-Mr.-Geithner-the-Twilight-Zone

Disappearing Middle Class: Bilingual Ph.D. Accepts Rent Money From Church, Huffington Post
http://www.huffingtonpost.com/2010/07/23/disappearing-middle-class_n_656941.html

Job Market Unlikely to Recover Until 2014, AP (MSNBC)
http://www.msnbc.msn.com/id/32694985/ns/business-stocks_and_economy/

JobOfer.org – an organization specializing in filling seasonal positions with exchange students
http://www.jobofer.org/

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Thanks for attending!

Joel Foner (Second Life: Joel Savard)

http://joelfoner.com/about
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