White Collar Unemployment

A detailed Summary of White Collar Unemployment


Recently an epochal event took place in our economical society. While there has been a slight decrease of 5.6% in unemployment, the number of those that are white-collar workers in managerial positions has rose to 43% of the total jobless community (Obleen 1). Stephen Roach of Morgan Stanley believes that this rise in managerial layoffs stems from the over investment in information technology as well as the masses of white-collar workers that were hired to handle and master the new technology (Koretz 1). The high expectations for productivity in the field of information technology led to the excessive fabrication of high paying, high level jobs. However, the efficiency of this newfound trend is not as productive as corporations believed it to be. Therefore cutbacks are needed to accommodate the costs and money lost. Another reason that white-collar workers are steadily losing their jobs is due to preventive measures. While America is not officially in a recession (two straight quarters of negative GDP growth) corporate fears that the worst is yet to come and are preparing for it. Healthy companies are trying to reduce costs and increase


It is obvious that our nation is not at its highest economic potential. With the effects of September 11th still in clear view and the consequence of focus put on Iraq there is not yet an obvious sign of recovery. Even when the nation does begin to recover from these hostile situations as well as the inaccuracy of reliance on information technology, it will still be a while before our unemployment drops and white-collar workers are confident in new jobs. Until then highly educated professionals will continue to suffer with the farmers and will have to follow the advice of Laurence Shames and find "more" in responsibility and happiness (Shames 4).

I cannot suggest a miracle solution to put all of these unemployed workers back into high paying jobs but what I do suggest is that the nation learns from the mistake that has been made and be more cautious in the future. Corporations were entirely too confident in the new trend of information technology and I do not doubt that this could happen again with whatever comes along next. To avoid another disaster in the white-collar community I suggest that more discretion and forethought be reserv

Some common words found in the essay are:
Morgan Stanley, Comment Americans, , Laurence Shames, white-collar workers, information technology, highly educated, paid employees, moral satisfaction, unemployed workers,

Approximate Word count = 774
Approximate Pages = 3 (250 words per page double spaced)

Category: Miscellaneous

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