americanaspiration

Posts Tagged ‘downwardly mobile’

Downwardly Mobile?

In News on April 19, 2011 at 9:25 am

This article about business professionals who have been laid off in the past few years highlights an emerging problem in the economy.  The few jobs that are being created are not replacing the job positions that are eliminated.  The story linked to below highlights one MBA credentialed business executive who spent 2 years on unemployment and then took a part time position teaching bookkeeping for $15 per hour.  There is a shortage of high value executive business positions to absorb the legions of business professionals that were caught up in recent corporate re-sizing measures.

Another problem is that many people have built skills in industries that no longer exist.  The story also profiles a woman who gained experience as a construction estimator.  With new construction at a virtual standstill the question becomes what was that experience worth.  As many are finding out now the value of your skills in the prior economy may not be even close to how today’s economy values the same skills.

Making matters even harder, is that this problem is exacerbated by the housing market that handcuffs professionals to their homes and restricts mobility.  If skilled professionals can’t move to find a job that matches their skills they are forced to accept employment in areas that either cant make use of thier experience or dont value the experience enough to translate it into compensation.

Read More:

http://www.huffingtonpost.com/2011/04/19/trading-down-long-term-unemployed_n_850220.html?page=3

Advertisements