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Home » Your well-paid, middle-class job is in danger

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Your well-paid, middle-class job is in danger

Source: marketwatch.com Author: RUTH MANTELL READ FULL ARTICLE AT marketwatch.com

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Some highly paid workers may find they need to switch careers

The job market is changing, and it’s not just manufacturing jobs that are disappearing. Even some highly-paid workers may find themselves needing to re-tool their skills in the years ahead.

The ongoing movement of jobs to countries where labor is cheaper, plus the development of new technologies, may mean fewer opportunities for some well-paid positions in the U.S. over the next decade, said Larry Katz, an economist at Harvard University.

“Employment growth has stopped, or even declined, among many middle- class jobs that are high wage” and don’t require a college degree, Katz said.

“A lot of traditional middle-class, upper-middle-class jobs have been disappearing. If you look at general managers and middle-management jobs, those are ones that have been in decline and will decline further,” he said.

Workers making about $40,000 to $80,000 a year constitute the bulk of labor costs for many companies, and these workers may be on the chopping block, said Jeffrey Joerres, chief executive of ManpowerGroup, a Milwaukee-based staffing services firm.

“That’s your middle class,” Joerres said. “Companies are finding ways to reduce the number of people in those areas, and change the jobs to make them more simple, to reduce the skill that is required.”...

Full article: Your well-paid, middle-class job is in danger

More About: jobs Career Salary

Feb 2 2012 submitted by Sydney Austin

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