UK faces US-style jobless recovery, says Institute for Fiscal Studies – Telegraph

UK faces US-style jobless recovery, says Institute for Fiscal Studies – Telegraph

This is an interesting article, well worth reading, but I would like to expand it. I believe that in both the UK and US that the fundamental problem is that most so called growth in employment over almost half a century have involved more and more people shuffling paper, serving drinks, checking targets, moving money, etc. etc. for a smaller and smaller number of people who are actually adding value. Of course there have been exceptions, notably in the field of information and communication technologies, but mostly we have just created an ever enlarging parasitic hoard. It reminds me of those period dramas like “Gosford Park” where regiments of servants, all with very specific roles, all serving the “master of the house”, but no one really adding any value. the only difference now is that the servants are working in coffee shops, government offices and banks instead. That is not to say that coffee shops, government offices and banks are unnecessary, but do we really need quite so many employing quite so many people? I think the fallout from the recession that started in 2007 will be a realisation that we do not. the question will be whether the people who did (or would have) work in those “non jobs” can realign their skills and mindset to to find a more productive role?

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