Originally Posted by Ron Bennett

What many wonder is where are these new decent paying jobs going to come from?

Manufacturing, as it has for decades, continues to move offshore ... so that's out.

Financials, including banks, already has too many people ... so that's out.

Accounting, while continue to grow, is easily, and increasingly, outsourced ... so that's out.

Computers / System Admin / Programming / Design, while indispensible, is easily outsourced ... so that's out.

Thus many new jobs will be ~$10 slave wage service jobs and warehouse workers ... but the future is likely even worse than that ... there simply won't be enough jobs, at any wage, for everyone who need them...

One stat that's telling is the net job growth was essentially zero in the past decade, and yet the U.S. population grew by around 30 million. And the next 10 years, even with reduced immigration, the population is likely still to grow by around 1% per year...

Which at current rates, equates to around a NET (after subtracting out retirees and deaths) 100,000+ NEW working age people entering the available workforce each month!

I don't see any new big thing on the horizon to turn that around - technology is played out; too easily outsourced anyways ... so, again, where will all these new decent paying jobs come from?

And lastly, while unemployment is often a (edit: lagging) indicator, it's likely not this time, because this is not an inventory based recession / depression, but rather is a debt based one, much like that of the 1930s depression.

Ron