Jobs data shows: Either you are way over educated or way under educated –Wyly Wade | Wyly Wade
Recruitment (Photo credits: www.mydoorsign.com) Bloomberg does a really great job on presenting the details behind the October 2013 jobs report. While the 200,000 new jobs were created is much better it is still a far 300,000-400,000 that were really the norm in the '90s and mid '00s. At the same point though the workplace participation rate is at an all time low. If you go to slide 4 it really shows you where with each major decline in the past 20 years we lose a huge amount of manufacturing jobs that never really return. This can be attributed to the concept of having to do more with less leads to seeking new locations with cheaper labour, labour arbitrage. Historically because of the large numbers of manufacturing workers this meant significant savings to the companies bottom. Over 6 million manufacturing jobs have not returned after economic downturns. As fewer opportunities for manufacturing outsourcing are left in the past 10 years you have seen an increase in this effect hitting