As I discussed back on August 10 – citing The Wall Street Journal – America’s highly skilled workers will continue to be the segment that are least impacted by an economic downturn. In fact, there will continue to be a shortage of skilled workers.
The challenge is that even when the economy inevitably turns around, many of the middle skilled jobs will not return. This is neither a political issue nor a moral one.
The question is whether American businesses will continue to innovate and thereby create new opportunities and jobs? A secondary question is whether American small businesses will be willing to look beyond our borders for opportunities in emerging markets. This will be a challenge as it is estimated that as little as 4% of Americans have a valid passport.
There will continue to be many new opportunities within our borders to innovate and grow business. However, many of the exciting opportunities will be overseas and the successful American small businesses will the ones that take advantage of both.
See my August 10 post – “Employers Having Tough Time Finding Workers”
Olaide Banks is a business law attorney in Houston, Texas. www.banks-attorneys.com
