Sunday, July 17, 2011

Greenspan lashes out at US young workers


Alan Greenspan

Source: Press TV
http://www.presstv.ir/usdetail/189391.html

Former Federal Reserve chairman, Alan Greenspan, has lashed out at America's younger workforce, saying they don't match up to the 'baby boom' generation.

Mr. Greenspan said the U.S. is in the process of seeing the baby boomers, which he called 'the most productive, highly skilled, educated part of our labor force' retire.

'They are being replaced by groups of young workers who have regrettably scored rather poorly in international educational match-ups over the last two decades,' he added in the interview with Globalist.

He went on to say how the average income of U.S. households headed by 25-year-olds and younger had been declining in comparison to the average income of the baby boomer population.

Mr. Greenspan suggested it would be better for America to hire skilled immigrants to counter the worrying trend.

'Most high-income people in our country do not realize that their incomes are being subsidized by their protection from competition from highly skilled people who are prevented from immigrating to the United States,' he said. “But we need such skills in order to staff our productive economy, so that the standard of living for Americans as a whole can grow”. Daily Mail

FACTS & FIGURES

The official jobless rate in the United States is over 9 percent. Econpost

In fact, when unemployment is measured according to the formula that was used when President Bill Clinton took office, it is actually around 20%. Free Republic

The unemployment rate for people without a college education is twice what it is for people with at least a bachelor's degree. Las Vegas Sun

More than half of the U.S. labor force (55 percent) has “suffered a spell of unemployment, a cut in pay, a reduction in hours or have become involuntary part-time workers” since the recession began in December 2007. The Economic Collapse

No comments:

Post a Comment

I'll be right with you.

Russia Today (Live)

World News 2017

Current Affairs - Important Interviews – 2017

Debate – Global Issues 2017

Important Information 2016 - 2017

South Front Military Review 2017

Syria - News 2017

Yemen News 2017

Turkey News 2017

Ukraine News 2016 - 2017

Palestine & Israeli Crime 2017

Iraq News 2017

Important Documentaries

Viewpoint, Discussion & Opinion - 2017

Abby Martin – Empire Files

US News 2017

Iran News 2016 - 2017

Global Economic News 2017

Egypt News 2016 - 2017

Libya News 2016 - 2017

Bahrain News 2016 - 2017

Sheik Imran Hosein - Islamic Eschatology

George Galloway – Comment & Opinion

The Words and Actions of Ken O'Keefe

English FA Cup 2016 – 2017

New Age Weather

Space News

Music for the Revolutionary Mind

Global Revolution LIVE!

Watch live streaming video from globalrevolution at livestream.com

Japan’s 3 Nuclear Meltdowns STILL ongoing (News Censored)