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Originally Posted by Deogol
http://www.vdare.com/roberts/050715_descent.htm
VDARE.com: 07/15/05 - America's Descent Into The Third World
"America's Descent Into The Third World
By Paul Craig Roberts
The June payroll jobs report did not receive much attention due to the
July 4 holiday, but the depressing 21st century job performance of the
US economy continues unabated.
Only 144,000 private sector jobs were created, each one of which was
in domestic services.
It is a myth that all service jobs are low paying.
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56,000 jobs were created in professional and business services, about half of which are in administrative and waste services.
Wouldn't this include lawyers and other high paid consultatnts?
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38,000 jobs were created in education and health services, almost all of which are in health care and social assistance.
How many of these were doctors and nurses?
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Financial activities created 16,000 jobs.
What do bankers and stockbrokers make these days?
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This most certainly is not the labor market profile of a first world
country, much less a superpower.
Perhaps it is the profile of an economy adapting to the 21st century?
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US manufacturing lost another 24,000 jobs in June.
While gaining 144,000 service jobs. Net gain = 120,000 jobs in one month.
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A country that doesn't manufacture doesn't need many engineers. And the few engineering jobs available go to foreigners.
This is absolutely false. With global communications what they are today, there is no reason products can not be designed here in the U.S. (or anywhere else in the world, simultaneously) and built overseas where manual labor is cheap and plentiful.
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Gentle reader, when you read allegations that there is a shortage of engineers in America, necessitating the importation of foreigners to
do the work, you are reading a bald faced lie. If there were a
shortage of American engineers, employers would not word their job
listings to read that no American need apply and that they are
offering jobs only to foreigners holding work visas.
Perhaps the real shortage is in high-quality engineers? Let's face it, our education system is great at making kids feel good about themselves. It sucks at teaching math and science.
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What kind of country gives preference to foreigners over its own
engineering graduates?
One seeking the best availible labor pool. We need more highly educated workers to move here, not less.
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How much longer will parents shell out $100,000 for a college
education for a son or daughter who end up employed as a bartender,
waitress, or temp?"
The most important factor in determining what people will earn over the course of their lives is their education. Is a college diploma a guarantee of lifelong employment? Of course not. However, it is the most valuaable tool a worker can possess to give themselves a good chance of a sucessful career.