global labor trends the labor market is changing rapidly, are you prepared?
TRANSCRIPT
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Global Labor Trends
The Labor Market is changing rapidly,are you prepared?
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Collapse of Communism (1990) & Advances in Technology
Road to Globalization
World movement towards Capitalism
Free Trade requires a set of “rules”
WTO becomes Global Referee
National Government’s lose power
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New Labor TrendsOver the past 15 years Labor has significantly changed
Globally:Globalization: “free trade” with other countries
Collapse of Soviet Union & Communist EconomiesChina & India emerge as economic powers (GDP growth > 10%)
European Union forms common currency
Worldwide free flow of financial capital & labor
United States: Unions are declining Less “Job Security” Declining Manufacturing Jobs Rising Demand for Educated Workers
↑ Gap between Rich & Poor
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Bottom 20% Top 5%
Income Distribution
+56.0%+ 1.0%Change:
The pay gap widens in USA!
Qty
D1
S1
-------------
P1
Q1
E1--------------
Low-Skilled Labor
Qty
D1
S1
-------------
P1
Q1
E1--------------
College Educated Labor
Qty
D1
S1
-------------
P1
Q1
E1--------------
College Educated Labor
D2
D2
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Outsourcing Article
Outsourcing
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Innovation
How does the USA create Jobs with Globalization?
Trade Increasessales for
U.S. Corporations
USA & Globalization
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CEO Pay vs. Average Worker
• 1982 42 to 1• 2001 531 to 1• 2007 365 to 1
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Mr. Rodgers on trial:
Survival ofThe fittest!
Who is Rich in America: Video Analysis
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GlobalizedLabor Trends
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Mr. Rodgers Global View:
“I can’t protect a job that has no economic right to exist”
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Mr. Rodgers on trial:
“He is exceedingly greedy and unnecessarily mean”
“He is economically doing the right thing, but morally doing the wrong thing”
“He believes in survival of the fittest and that is what it takes to succeed in the Global Economy”
“I can’t protect a job that has no economic right to exist”
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U.S. FlexibleLabor Markets
Benefits Costs
France vs. USA Labor Markets