Zeev's Turnips Patch-No Politics (ZEEV)

[Newly2b]

Mish,

If you look at the number of baby boomers who will be retiring in the next decade, and the number of young people coming into the job market in this country, I think you will find (though I have no links to any data) that there will be more people retiring than entering the job market. Also, as we now live longer, I suspect many jobs will be created to cater to the retired, aging segment of our population, such as healthcare, in-home support, therapy, travel/vacation services, entertainment, etc. We are already experiencing a severe shortage of nurses here in California . . .

While we are currently losing jobs to China and India, in future the job market in this country will simply shift from one segment of the economy to another, IMO. Back in the late '80's when layoffs at our area's largest employer prompted a housing bust, S&L closures, recession, we reinvented our economy away from the weaker employment area (aircraft/defense) into stronger areas (tourism, technology and trade). This is a natural occurrence, as when the buggy whip industry collapsed as jobs were being created in the automotive field -- economic death and rebirth!

Of course, this could also just be the beginning of the fall of the Roman Empire . . .

Newly