Michael Spence at the The Council of Foreign Relations provides a realistic and sobering picture of the changing American economy and labor force. It’s a 55-page report that I’ve briefly reviewed but there’s excellent information regarding how the American workforce will be impacted if things don’t change. This also has major opportunities and challenges for the Latino workforce.
They note that the American economy has seen the lower and middle components of the value-added chain moving to the rapidly growing markets abroad and warn that soon higher-paying jobs may follow low-paying jobs in leaving the United States. The actions of the free market have made goods less expensive for Americans, but the free flow of labor and capital has also diminished the employment opportunities available in the United States and will, the authors warn, continue to do so at all levels of society.