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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: yard_man who wrote (5618)1/21/2004 7:55:24 AM
From: Mike da bear  Read Replies (1) of 110194
 
RE: Demand For Engineers Rising Fast In U.S.

This BS is getting to be a very sad joke. You've got the government (BLS) saying demand rising. You've got HP, IBM, Intel CEOs claiming government needs to spend more on research, schools, etc to make US more competitive.

The fact is even though the US is graduating fewer engineers than 7 yrs ago, the new grads can't find jobs. When CEOs say we need to make US more competitive, they really mean to say they want US engineers to be 5 times more productive than their counterpart Indian or Chinese engineers... this is necessary to compensate for the fact that Indian and Chinese engineers only make 20% of what a US engineer does. Unfortunately this isn't going to happen... we're all humans and there's no way you'll make a US engineer to be 5 times smarter than foreign. We're all working with the same tools (computers, software, etc) so technology won't help in making US engineers more productive.

This is the CEOs comeback to explain why they're shipping white-collar jobs overseas. The reality it's all bottom line. In the new global economy, jobs will shift to the lowest cost location. Will not stop until there's parity in wages. So we've got a long way to drop in our standard of living here in the US.... until it matches the standard of living in China and India.
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