>>in many developing countries, half the population is under the age of 15. within the next decade, actually starting immediately, huge numbers of people worldwide will be entering the labor market for the first time.<<<
Couple of points. You are talking about "developing" countries. They will have little effect on our job market and our economy as well as other developed countries. Here in the US I am projecting that we will have a very good job market for those wanting a job. Here is a startling satistic- half of all federal workers will be eligible for retirement by 2006. If you go to this site; http://www.npg.org/facts/us_historical_pops.htm
You will see that we really don't have that many new folks entering to work force over the next 15 years. We have more leaving the work force. Got to ask yourself where the health industry is going to fid enough workers to care for all the baby boomers. Looking at alzheimers, there are currently about 4 million Americans that have the disease. By 2050 there will be an estimated 14 million. With each patient needing about 2 caregivers on average you can see how this one disease will require many new workers in the years ahead. The problem of course is that we will be more than likely looking for these workers in a smaller pool than we have right now.
Shorter term of let's say from now for the next 5 years jobs may be an issue as the economy slows down. But, as more folks retire we could see the real issue to be a lack of workers in the longer term. I think we may see some of that right now as it appears by the unemployment numbers that many are just giving up and not looking. Maybe not so much that they can't find jobs but more that be so close to retirement that may not see it as worth while for the effort needed.
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