The Job Divide and What to Do: “College Grads Expand Lead in Job Security”

Written By Gary Spirer Published September 20th, 2010

The Wall Street Journal’s front page article “College Grads Expand Lead in Job Security”

(Monday, September 20, 2010) is juxtaposed against another head line “Bond Markets Get Riskier.”

The issues are fundamental: security versus Risk and education versus unemployment.

But, even more basic is my belief that all life is an investment of your time, money and resources.

Whether in a finance business or life, in different forms, we are in search for the highest rate of return (ROI) on investment.

Right now, investors are chasing after junk bonds and bidding them up because they are desperate for yield.

In part, this is fueled by the government and the Fed in particular, keeping interest rates artificially low. These low rates penalize savings and investment. They are a tax payer subsidy of banks and housing among them.

What appears secure is getting riskier and riskier if you believe that rates and inflation will increase as the government inflates its way out of its enormous debts by monetizing them.

In the same way, every day jobs and job security has become a riskier investment.

Education alone is no longer a guarantee of a good job.

College education gives a relative advantage over high school education in getting a job, staying employed or finding a job if laid off.

But, who has the securer jobs and greater wage increases – government workers and teachers.

As government debt and government workers grow, there is a crowding out of the private sector jobs and opportunities.

To make matters worse, the government keeps extending unemployment benefits across the board.

Many college students are burdened by student loans and wages that are stagnant.

What can we do?

On an individual level:

  1. Self education is a most
  2. New skills must be learned – especially digital
  3. Enormous amounts of free materials and teaching are offered on the internet
  4. The investment in learning these skills is much lower than ever before because so much is free
  5. One of the few ways to advance beyond just holding a stagnating job is to look at what jobs are most in demand and train for them
  6. Where there is a will, there is a way as many businesses want dedicated, enthusiastic, committed workers
  7. Home – based businesses – especially digital – can be started with small amounts of capital
  8. You can volunteer to help seminar companies and get 1000s of dollars of free education e.g. assist in back room sales or assist the event planner or the audio/video provider

On a national level:

  1. Be wary of propped up economics – the government continues its artificially low interest rates which distort asset values and fuel speculation
  2. US education is falling because of the desire for the government to lower standards as it has in the financial markets
  3. The idea of continued overspending borrowing, monetizing debt, increasing taxes and regulation is a recipe for slow growth and more financial crisis.
  4. Spreading the wealth is not the solution.
  5. Returning to an entrepreneurial based society with incentives for start ups job growth and entrepreneurial skills education is what is needed – the opposite of what we ware doing.

To get the highest rate of return, on investment, jobs, education and as a country and, we have to do the opposite of what we are doing.

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