Saturday, May 7, 2016

Some Observations on the Workforce

The above is an analysis by element of the workforce as a percent of the total population comparing August 2006 to the current. It is interesting to see what is happening.

1. Professional is increasing. Just what that represents is questionable.

2. Education and Health is the largest increase. We understand that one.

3. Construction takes a big hit. Now you really cannot outsource construction so this is a serious number.

4. Government contracted and this is due mainly to the Recession.

5. Leisure is up but one suspects that is minimum wage jobs and has displaced other higher income jobs.

6. Manufacturing has taken a big hit. This is both demand and outsourcing.

7. Information is down but not clear if this may also be outsourcing.

Overall this is not a pretty picture.