500,000 jobs screaming to be heard do you know where they are? Don’t choose service jobs.
It seems most jobs tell you you’re lucky to have a job. The condescending attitude of “You’re lucky to have a job” took over around 2000. The invention of the internet made online applications available, technology automated screening processes, and then mobile applications flooded companies with possibilities.
When did well paid jobs did become a privilege?
A job is work. Work requires time and energy. According to a Forbes article published by Susan Adams fifty two and one third (52.3) percent (%) of Americans are unhappy at work. The article continued to state that since 1987 the Conference Board of New York has researched this topic. Nearly three decades ago 61.1% of workers said they liked their jobs.
So according to this article (and the Conference Board of New York) nearly half of all American workers are unhappy regardless of wage. According to the Bureau of Labor Statistics (BLS) the labor force participation rate is 62.9%. That means about one third of people eligible to work decide not to.
That’s an interesting statistic isn’t it?
Half of U.S. workers working are unhappy and one third of eligible U.S. workers decide not to have a job at all.
Doing basic numbers, this means almost two thirds of the eligible American population is miserable at work or chooses to not bother with it.
EMPLOYERS PAY ATTENTION
Employers the attitude of telling someone they are lucky to be there isn’t working. It is not okay to make a person feel like they are fortunate to do work for you. The truth is you are fortunate to have committed people to your company.
A 500,000 en masse job exodus is hovering over employers’ heads and they don’t see it coming.
Let’s analyze some trends that we gather from the BLS in the once great manufacturing sector (America held the edge in manufacturing in the 1970s). Manufacturing used to be a larger component of the U.S. economy. In 1970, it was 24.3 percent of GDP, double what it was in 2018.
America’s edge as the world’s leading manufacturer slipped. In 1970, China was the world’s fifth largest manufacturer. China took the number 1 spot in 2010. Japan is third, at 10 percent. It’s followed by Germany at 7 percent, South Korea at 4 percent, and India at 3 percent. China produces 20 percent of the world’s goods, according to a Brookings Institute report. The United States produces 18 percent of the world’s goods. Japan produces 10 percent of the goods the world demands.
I’ve written about technology replacing jobs, automation making tasks obsolete, and sophistication needs for future employees in manufacturing. These items greatly influence job availability and quantity. Do you know something that I have not pointed out before?
Let’s let a very credible person tell you instead of me.
Nick Pinchuk, chairman and CEO of Snap-on, told CNBC that Only 30% of Americans want to work in manufacturing. Mr. Pinchuk explained this at length to attendees at CNBC’s @Work Human Capital + Finance conference in Chicago. Specifically Mr Pinchuk cited data from the National Association of Manufacturers to support his statements.
According to Mr. Pinchuk there is something most believe but are reluctant to say. The attitude of America for the past twenty (20) years was
“Manufacturing is what other poor people do.”
TREATMENT AND MISCONCEPTION
As of July 2019 there were over 500,000 jobs available in the manufacturing sector. The company Mr. Pinchuk represented was Snap-on. Snap-On has not laid off a single person since BEFORE the Great Recession (Fact check me on that one).
The biggest reason a shift in attitude came was because America decided it wanted to transition to a service-based economy. Bank and financial services began growing after 1999 when Congress repealed the Glass-Steagall Act. (Notice the job attitude changed in 2000?)
The healthcare sector also experienced significant growth. It’s grown from 5 percent of the economy in 1960 to 18 percent in 2015. In 1965, the government began subsidizing hospital costs when it created Medicare and Medicaid. One of the biggest reasons for rising health care costs was government subsidies. Health care services also responded to the aging baby boomer generation.
People started not wanting to labor or tasks like “taking out the trash” for a living. This attitude created a sense of pride and entitlement for the last twenty (20) years. All that is going to change soon.
For example, a unionized auto worker in Detroit makes $58 an hour, including wages and benefits.
Service based companies are you reading what I just wrote? A manufacturer who sweats to work in assembling a car (in Detroit) can make about $9,280 a month. For those that want simple math that’s $111,360 per year.
The President of a Bank doesn’t touch that salary. Funny all the prestige of a desk and someone doing an honest day’s work is killing the highest position at a banking branch. I think people need to start re-thinking their priorities.
AMERICANS ARE FIGURING OUT TREATMENT IS BETTER ELSEWHERE
Employers people are starting to wake up. The college degree thing for sitting behind a desk is old. This is especially true when someone barely makes enough to pay rent. I recently found out at my friend’s accounting firm one of the junior associates was making about $2,000 a month.
I was floored by that.
What made it worse was the person had a four year degree.
I had no words for that either.
Someone went to school to learn accounting, took a job as an accountant, processed millions on returns and then settled for like $25,000 a year????
I’m sorry but learning how to make a car and program machines to do it sounds way better than that. The story of my friend’s accountant ends with a strong message. The junior accountant quit abruptly and is pursuing his master’s degree for another field.
Employers if you don’t want to lose 500,000 jobs en masse it’s time to wake up. Pay people real wages, treat them with some dignity, and stop acting like working for you is a privilege. You are about to discover half of all your employees failing to show up to work. All it takes is for people to realize they have job security and high earning potential in “Non Service” based jobs.
Free financial pointer? Don’t buy service stocks. Hopefully this newfound knowledge will take future job seekers to profitable and safe professions. Follow me on Medium or subscribe to my newsletter to learn more insightful advice.
To your knowledge success!
About Christopher: Christopher Knight Lopez is a Professional Entrepreneur. Christopher has opened over 7 businesses in his 14-year career. Christopher’s purpose is to take advantage of various market-driven opportunities. Christopher is a certified Master Project Manager (MPM), Master Financial Planner (MFP) and Accredited Financial Analyst (AFA). Christopher previously held his Series 65 securities license. Christopher also has his General Lines — Life, Accident, Health & HMO. Christopher has managed a combined 286mm USD in reported Assets Under Management & Assets Under Advisement. Christopher has work experience in 29 countries, raised over 50mm USD for various businesses, and grossed over 7.5mm in his personal career. Christopher worked in the highly technical industries of: biotechnology, finance, securities, manufacturing, real estate, and residential mortgages. Christopher is a United States Air Force Veteran. Christopher has a passion for family, competitive sports, fishing, martial arts and advocacy for entrepreneurs. Christopher provides self-help classes for up-and-coming entrepreneurs. Christopher’s passion to mentor comes from belief that entrepreneurs need guidance. The world is full of conflicting information about entrepreneur identity. See more at www.christopherklopez.com.