| How many regular, full-time jobs did the U.S. shed | | | | youth but from senior citizens. The Ministry of |
| in 2008? According to the Bureau of Labor | | | | Justice is reporting that criminal offences by |
| Statistics, the US shed over 750,000 jobs last | | | | people 65 years or older has doubled to 48,605 in |
| year. While you are seeking specific numbers, be | | | | the five years to 2008, the most since police |
| aware that BLS unemployment data is | | | | began compiling national statistics in 1978. |
| understated. A changing employment model and | | | | Authorities are bracing for an increase in elderly |
| inaccurate data call into question the jobs | | | | crime. In 2007, the over-60s accounted for 18.9% |
| numbers' worth in evaluating its impact to the | | | | of all crimes, compared with 3.1% in 1978. And |
| market and to the economy. Also, be aware of | | | | 80% of the crime is shoplifting." |
| the thinly veiled layoff model labeled "early | | | | There is even a suggestion in the story that |
| retirement." So-called "early" retirees are viewed | | | | some Japanese men who have "lost their wives |
| as "retired" - even though they have, simply | | | | are committing crimes so they can be thrown |
| stated, accepted an enhanced layoff package and | | | | into jail and enjoy three meals a day!" |
| many (if not most) are not retirement ready. | | | | "After 20 years of falling wages, a sluggish |
| Remember the song, where have all the flowers | | | | economy and rising health costs, Japan's retirees |
| gone? You do if you're a Boomer! Think about the | | | | are doing it tough. Authorities have noted a rise in |
| song's underlying message as it applies to today's | | | | shoplifting and petty crime, not from Japanese |
| loss of regular, full-time jobs. | | | | youth but from senior citizens. The Ministry of |
| 1. Labor intensive products will be manufactured in | | | | Justice is reporting that criminal offences by |
| the countries with the lowest labor rates and | | | | people 65 years or older has doubled to 48,605 in |
| lowest costs of production. Multi-national | | | | the five years to 2008, the most since police |
| companies are shagging many of the regular, | | | | began compiling national statistics in 1978. |
| full-time jobs and you cannot expect a | | | | Authorities are bracing for an increase in elderly |
| multi-national company to look after our interest | | | | crime. In 2007, the over-60s accounted for 18.9% |
| to keep our population employed. | | | | of all crimes, compared with 3.1% in 1978. And |
| Watch this trend carefully because without | | | | 80% of the crime is shoplifting." |
| research, development and investment into new | | | | There is even a suggestion in the story that |
| technologies, the ultimate result could turn out to | | | | some Japanese men who have "lost their wives |
| be the American worker accepting emerging | | | | are committing crimes so they can be thrown |
| countries' wages in order to survive. Ouch! | | | | into jail and enjoy three meals a day!" |
| 2. The temporary market will continue to expand | | | | Could this happen here if pension-less Americans |
| because of an increase in just-in-time opportunities | | | | live longer?Can we stave off this problem through |
| as the market shifts from longevity-based pay to | | | | work? What's the lesson for employers? |
| market-driven pay. | | | | The employment model has changed forever. |
| Which is not to say that all temporary firms are | | | | Setup your retiree and former employee job |
| thriving as many of the best candidates are, and | | | | banks and use these experienced folks for |
| will be, independent agents that save the | | | | project work. "Don't cut out your training budget |
| company money and put a little more of it in their | | | | to spite your continued improvement in |
| own pockets. Watch this trend at the same time | | | | productivity" - instead, re-focus on new ways to |
| as you watch the progress of National Health | | | | help people learn at the most affordable costs. |
| Care initiatives. | | | | Now is the time to implement phased retirement |
| 3. Lower paid jobs will continue to shift to "under | | | | in order to reduce costs significantly. This is the |
| the table" pay. This is where many under-skilled, | | | | moment to re-negotiate rates with temporary |
| "undocumented aliens" will continue to receive the | | | | firms. Keep as many people working - in any |
| bulk of their wages. Likewise, expect more trades | | | | capacity - as possible. |
| and bartering for services from by the service | | | | Will Boomers be especially vulnerable to layoffs in |
| community. | | | | a downturned economy? |
| 4. Jobs will continue to be lost to automation by | | | | You bet they will. Keep in mind that rising |
| U.S. manufacturers who must reduce labor costs. | | | | unemployment goes along with recessions. The |
| 5. Increasing numbers of people will remain | | | | highest paid employees are typically the long-term |
| unemployable. They will remain unemployable | | | | (older) employees. It goes without saying that |
| unless, or until, they re-train or re-educate | | | | unless employers and individuals come to accept |
| themselves for jobs the nation needs. Remember | | | | that the market - not longevity - determines pay; |
| that unemployment is not limited to blue-collar | | | | the higher paid workers will become increasingly |
| jobs. For example, there are plenty of investment | | | | vulnerable as the recession drags on. Before |
| bankers without the skills for immediate | | | | cutting experience, both should consider the |
| alternative employment. | | | | benefits of adjusting pay to meet the economic |
| Here's a short story from the Ministry of Justice | | | | realities of a new time. When you can manage |
| in Japan with a lesson for the U.S. | | | | the variable people costs and still retain |
| "After 20 years of falling wages, a sluggish | | | | employees, in some capacity, both the employer |
| economy and rising health costs, Japan's retirees | | | | and the individual minimize losses and are afforded |
| are doing it tough. Authorities have noted a rise in | | | | the opportunity and time to reposition for the |
| shoplifting and petty crime, not from Japanese | | | | future. |