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White Collar Structural Unemployment

In the 1980's, America witnessed its blue collar ranks decline during the '81-82 recession.  Economists often referred to this as structural unemployment.  In recent years, however, white collar workers have become part of the structural mix.  Today on Bloomberg, an industry analyst predicted that in the next 18-24 months, 80,000 financial industry jobs, primarily in fixed income investments, will be lost.  The reason?  Structural unemployment due to that sector's slowness and unwillingness to embrace new technology.  Whereas, one can easily get stock quotes and effect transactions on-line, such is not the case in the fixed income sector.

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