The service economy or the post-industrial society is seen as the next stage in societal development. It is defined as a country where manufacturing, paper products and lower production and new industries such as services, information, research on the rise. The service economy seems radically different, then running a manufacturing company. One main difference is that the service economy is that many low-skilled jobs are in abundance and decline in wages of unskilled workers due to a decline in manufacturing. However, pay and prestige of high-skilled jobs is increasing. Therefore, it is a society of have and have-nots. The middle class who made their money in companies like the big three auto companies will not see these jobs restored for their children.
The reason for the low-skilled wage is lower because many well-paying manufacturing jobs have moved overseas to take advantage of reduced costs. Since the technology of telecommunications, logistics and the global market has developed the location of manufacturing firms are few worries.
The unskilled worker is therefore obliged to find employment in the services sector. Like most of us know, jobs in the service sector do not pay high wages in general. It is difficult to pay someone $ 19 an hour to serve food in a school. As the amount of manufacturing jobs down there is more competition for jobs and it puts more downward pressure on wages.
The good news is that highly skilled and work are in high demand. These types of workers have made great progress in academia, have skills that can be easily learned in other countries because of their poor education systems and technologically advanced. They benefit from the skills gap left by retiring baby boomers.
The good news from these highly education is that they can buy personal services at a much cheaper then they could before. The downward pressure on wages of unskilled workers increases the standard of living of those in higher income brackets. They can now afford to have someone clean their house, mow their lawns and watch their children.
If you're someone who cares about your future employability, you must be able to provide some economic trends in the labor market and learn the skills necessary to compete effectively. This may require you to return to school, entering a high-tech industry and focusing on your long-term growth.
?? Murad Ali, a published author twice, writes articles and offers advertisement space for businesses. Visit and http:www.thenewbusinessworld.blogspot.com http:www.datingdesires.blogspot.com