...Future Trends in Retirement Tamika Mays SOC304: Social Gerontology Instructor Stephen Ulrich June 12, 2012 Future Trends in Retirement Retirement is considered to be a time of enjoyment. It is the time to enjoy your significant other as well as participate in activities that you love to do. However, as the economy and economy has drastically changed over the past several years, so too has the workforce. This essay will reflect on the future trends in retirement. It will also discuss how the percentage of the American workforce has changed and how gender, age, and racial or ethnic groups impact the employment rate. Due to the drastic economy changes as well as the recession many baby boomers have had to change their retirement plans. Retirees and those close to retirement lack the time to properly recover from job losses, falling home prices, and investment portfolio losses. Their retirement options are to work longer, save more, or settle for a lower standard of living in retirement. It has become a trend for many older Americans to dip into their savings to cope with the change in economy. According to Quadagno, about a quarter of American ages 50 and over report exhausting all their savings and that near half of them have had trouble making ends meet because their household expenses have increased, while the household income has fell. Also, many older Americans are choosing to delay retirement because there is not enough money saved or simply because they cannot afford...
Words: 734 - Pages: 3
...Sarah Burns Professor Horacek English 1001 26 October 2014 America’s Future Workforce Thomas L. Friedman’s selection entitled “The Untouchables”, from his 2005 best seller, The World is Flat: A Brief History of the Twenty-First Century, advises that every young American worker should begin to assume that they are competing against every young Chinese, Indian, and Brazilian for a job. For years, people worked where their parents worked, or wherever major corporations, government bureaucracies, or unions were available to them. Factors such as the advancement in technology, the idea of globalization becoming more relevant, today’s aging workforce, and postsecondary education becoming mandatory for any type of sustainable job will shape our country’s future workforce. Fifty years ago, no one could predict the technology we have today. Now, due to the speed of our technological change, we can foresee machines continuing to substitute human labor. This supports the idea that America’s future workforce will rely more on education than manual skill. The best jobs will be found at the hands of America’s brains. If not, the jobs will seek others who can fulfill the tasks. With that said, these jobs will replace the employees in charge of making these “sophisticated products” with machines that can do the same thing. This eliminates the manufacturing jobs, and replaces them with the development and marketing of such products(Judy and D’Amico 313). Adding to what the authors of...
Words: 1254 - Pages: 6
...The Future for U.S. labor The United States is facing a challenge in finding work for workers who have been unemployed since the recent recession. After many years of leading the manufacturing industry, the recent economic crisis, as well as the growth of the competitive global market, has caused many U.S. factories to shut down, and in turn caused a rapid decline in employment of U.S. workers (Baily, Manyika, & Gupta, 2013). However, simply employing the U.S. workers will not solve the high unemployment problem the country is facing. In this global marketplace, the United States will not only need to make improvement in the economy to create jobs that are robust and sustainable, but will also need to build a workforce that is strong and trained with the right skills (Baily & Bosworth, 2014). This paper will first look at the significant events of the history of U.S. labor to understand the current situation of the U.S. economy and how it has affected the workers. In this paper, U.S. labor, workforce or labor force refers to a pool of people who are employed in the United States. Since manufacturing is a significant source of employment for U.S. workers, the government has made advanced manufacturing as the center of its economic agenda to help with recovering the U.S. economy. Advanced manufacturing, as described in the President’s Council of Advisors on Science and Technology (PCAST) report, is an effort to improve the U.S. industry in systems engineering using...
Words: 7330 - Pages: 30
...Dương Vũ Đức Phạm Thanh Hà Composition 2 4 November 2014 Optimism & Pessimism in the changes of American Workforce: Reason? Considering how long the humanity has been in existence, Finding Jobs is a extremely difficult concept. There are many arguments about how to find and keep a job in today’s world and ways to make it more practical. In “The Untouchables”, author Thomas L.Friedman discusses how the American fungible and non-fungible jobs are affected by the Globalization. In Hudson Institute’s article “Work and Workers in the Twenty-First Century”, their analysts show their opinions about the current trend of jobs in the near future and envision it in the next twenty-plus years. In both articles the authors discuss the topics of why the American workers has reasons for both optimism and pessimism regarding to the changes in the workforces. Firstly, both authors discuss how the Globalization affects to the workforce market. In Friedman’s article, he advised his daughter to finish her homework beacause people in China and India are starving for these jobs. His advice is the another way to say that Globalization affected to the fungible jobs, in the flat world, people who has the fungible jobs will be automated easily. Hudson Institute’s Analyst Richard W.Judy said that in the Global economy, Automation will continue to displace low-skilled or unskilled workers in America’s Manufacturing firms and offices. He said the new jobs will also be safer, more stimulating, and...
Words: 800 - Pages: 4
...The Role Immigrants Play In American Businesses and the American Workforce The role immigrant’s play in American businesses and the American workforce are way bigger than Americans think. Immigration brings numerous benefits to the nation because they work in all types of occupations. There is nothing that immigrants are not in our nation; they vary from scientists, construction workers, teachers, engineers and so much more. They play roles in big businesses and small business and they help grow our economy and communities. They partake in lower skilled industries such as fruits and vegetable processing, meat packing, agriculture, etc. This is something that we purchase daily all thanks to immigrants. There is research that shows that immigration...
Words: 366 - Pages: 2
...matured as the Department has addressed changing economies and a diversified workforce. Today, the Department must ensure that the 21st century workforce is prepared to face the 21st century economy with hope--by equipping all workers with the skills to reach their aspirations. As we respond to the challenges of the changing economy, the Department's first responsibility will continue to be the protection of workers by enforcing the Nation's labor laws: * to ensure the safety of every workplace, * to guarantee an honest day's pay for an honest day's work, * to stop discrimination, * to protect workers from coercion and intimidation, and * to safeguard the pension of every American worker and retiree. The Department will emphasize prevention and compliance assistance--to protect workers before they are harmed physically or economically. Consistent with the Department's commitment to enforcement, we will work together with employers on better prevention strategies, avoiding whenever possible the loss of life, health or economic well-being that fines and penalties can never fully redress. This FY 2002 Annual Performance Plan is built upon the three strategic goals the Department established in 1997, goals which have supported the Department's efforts to unify around core mission responsibilities. DOL Strategic Goals | | | Goal 1. | A Prepared Workforce: | | Enhance opportunities for America's workforce | | |...
Words: 3202 - Pages: 13
...Economic Future, were released which discussed the controversy whether United States of America is falling behind other countries in STEM. The three reports consider wide perspectives of issues concerning STEM from competitiveness to the workforce in the United States. According to Innovate America, all issues...
Words: 1388 - Pages: 6
...whole such as the economy, education and health care. I believe that Obama has a great plan for all of the issues at hand, but everyone is entitled to their own opinions. When it comes to the economy President Obama inherited a terrible mess when he came into political office; a 1.3 trillion dollar deficit, two wars, rising unemployment and unprecedented crises in our banking system. The Obama Administration has worked overtime to address our immediate problems of rising unemployment, falling home prices and limping credit markets, while taking a longer view in laying a strong foundation for future economic growth that benefits all Americans. To get the economy back on track President Obama signed legislation to jumpstart our economy, the American Recovery and Reinvestment Act, less than a month after his inauguration. The plan will save or create 3.5 million new jobs, make critical investments in our infrastructure and give 95 percent of working Americans a tax cut. There are many people who are appreciative of what President Obama and his Administration are doing to help our economy get back on the right path and then there are those who disagree. Education has been a problem in the United States for a long time high dropout rates and not farthing education after high school is a big issue now-a-days but now it’s time for change. At this defining moment in our history, President Obama believes preparing our children to compete in the global economy...
Words: 1014 - Pages: 5
...Economics Assignment Module Title: Business Economics Module Code: EC291 Lecturers Name: Dermot Gallagher Word Count:00000 The current recession has had a huge effect on every day Ireland, the Celtic Tiger years are a distant memory. Gone are the days of living beyond on our means and there are very few people left in this country who have not felt the growing financial pressures. When a recession hits, Unemployment figures increase enormously. We agree with the assignment statement, in that we feel that unemployment will remain high over the coming years and we will strive to prove this statement correct in the following pages. We feel that there are certain factors that will maintain Ireland’s high unemployment rates and we aim to address each of these individually and show what impact these factors are having on unemployment in Ireland. Later on in the assignment we will also suggest factors which could help reduce unemployment. The first major issue facing Ireland’s high unemployment rate is investment. In order to invest, you need capital which at the moment is not available in this country. During the boom years, the banks were all too happy to lend money to people who don’t have any stable jobs and the regulators had allowed the bank to lend money, the regulators did not do their jobs properly because they did not analysed peoples assets and the stability of their jobs. These people who are lending...
Words: 2394 - Pages: 10
...nineteenth century were booming with settlers migrating westward in search of new resources and opportunity. After the end of the Revolutionary war, Americans were determined to build their own successful economy and government. Concepts of manufacturing were being developed and explored through Alexander Hamilton’s ideas. In fact the only way for Americans to improve their economic independence was to explore what was rightfully theirs by expanding westward. Westward expansion is one the main sources of American development and provided an additional source of freedom for settlers in the United States. Westward expansion provided Americans with hopes of finding new resources, land, and ultimately ‘freedom’. During Mary Dewees’s journey from Philadelphia to Lexington, Kentucky, she records her experiences in her journal. She does this to document her life as she traveled through her hardships as a settler and most importantly as an “independent” woman. She describes having to deal with harsh weather conditions with little rain and minimal shelter. With all this distress, she manages to keep a positive and confident attitude about her life of independence awaiting her in Kentucky. Dewees goes on to hint that her life in the north was not what she had enjoyed, and her new life in Kentucky held much promise for the future. The northern states, including Philadelphia, were focusing on building a stronger, central government. The settlers migrating westward and their journeys...
Words: 1115 - Pages: 5
...250 Chpt. 11 Case Analysis Anglo American PLC in South America BACKROUND: According to (Daniels, Radebaugh, & Sullivan), Anglo American was founded in 1917 as the Anglo American Corporation of South America. In 2002, Anglo American made a landmark decision to provide free antiretroviral therapy (ART) to HIV-infected employees. In 2007, Anglo American PLC, at the time one of the world’s largest gold miners, found itself facing a threat that, although by no means new, defies most traditional categories of things that complicate business – an HIV/AIDS epidemic in South Africa, the world’s largest gold producer. Anglo American PLC is a diversified mining conglomerate operating in 45 countries and employing 107,000 permanent employees to produce precious metals, base metals, and bulk metals. Sub-Saharan Africa is home to just over 10 percent of the world’s population and 60 percent of all people infected with HIV, the virus that causes AIDS. South Africa has the highest number of people living with HIV/AIDS and suffers the world’s highest rates of HIV infection – approximately 5.5 million- in a population of 49 million. Every day, almost 1000 South Africans die from AIDS-related diseases. ISSUE: Can Anglo American PLC and other corporations continue the fight against HIV/AIDS epidemic so that it does not affect business operations? ANALYSIS: Yes: 1) According to (Daniels, Radebaugh, & Sullivan), Anglo American PLC recognized the threat of the HIV/AIDS...
Words: 1082 - Pages: 5
...Offshoring: The Future of American Workers Ericka Bolling Shorter University Abstract Outsourcing is the catchphrase shaking up the worldwide financial environment. Offshoring or outsourcing has changed the way many businesses and individual coexist today. Each person today, respects many aspects of offshoring/outsourcing and we have learned that more organizations are using different assets from offshoring to pick up a business advantage. With the changing worldwide economy, and the inordinate expenses connected with keeping an employees at a staffed capacity, a large number of today's organizations and partnerships are outsourcing the generation of merchandise and administrations to outside firms with an end goal to cut expenses. While numerous experts contend that this can decimate nearby economies by cutting employments at home. There are numerous disservices to offshoring which affects our American workers and families and the practice of offshoring has taken a turn in the direction of an unethical practice. For laborers in the US, various occupations are lost permently, numerous workers need to increase new abilities, due to dimished wages because of the intensity of abroad laborers. Fundamentally, American laborers are presently compelled to contend on a worldwide level, as are organizations in this global commerce. Offshoring: The Future of American Workers Offshoring and outsourcing are words that many use interchangeably. Nevertheless, there are keen...
Words: 1380 - Pages: 6
...Introduction The United States workforce will be influenced in the next 20 years by several forces. The big shift in U.S. population size and composition (diverse, aging); advanced technology; globalization; and environmental and resources pressures. Technological advances and globalization are changing the way the workplace is structured, and creating a greater demand for less traditional and more flexible working arrangements. U.S. organizations to be able to respond effectively to globalization, and technological advances challenges, must have a workforce with greater range of experience, knowledge, and skills. Effective diversity management, skills development, and workplace training is very essential to stay competitive in a global environment. In addition increase labor productivity will be required to keep pace with global competitors. Environmental pressures, especially climate change and natural resources, will be another powerful force impacting the U.S. job market in the next 20 years. There are several factors that will influence the United States workforce in the next 10 years. Aging population, technology advances, and global competition. According to the bureau of labor statistics, the percentage of older workers (age 55 and over) will increase significantly, while those age (25-54) will decline, as well as those age (16-24)? Between the years 2005 and 2010, the population of (65-69) years old will rise by 17% and then explode...
Words: 2096 - Pages: 9
...immigration official said that it costs $12,500 to arrest, detain, and deport each person removed from the States. So the solution - immigration reform. Anti-Immigrant groups often downplay the importance of immigration and the effect it has on our nation’s future. Anti-Immigrants treat immigrants and immigration as a threat and use these topics as a way to stir panic and turn people against each other which is damaging to our country. 5.2% of undocumented immigrants make up the U.S. workforce. There are approximately 4.5 million children who are U.S. citizen with at least one unauthorized parent. Only 23% of immigrants are Mexican, 28% from Asia, 24% from Latin America and the Caribbean, 12% from Europe, and 4% from Africa. Roughly 18% of small businesses are owned by immigrants which sustains U.S. jobs and expands business which creates new jobs. If we limit the amount of immigrants who can come to our country than we as a nation will destroy our own economy resulting in our country’s...
Words: 1174 - Pages: 5
...would appear that the main reason for this is its weak economy. The political environment has three main perspectives as to who should be blamed for this or whose fault it is. The first would be that the national competitiveness is the responsibility of the policymakers of the business, rather than the business leaders themselves, who needs to concentrate on running their companies, the second would be that the companies should show loyalty to the country in which they run their business, the country which supports them. If the American jobs were to be moved overseas then the executives responsible for this would be considered traitors to the American economy. The third perspective is that the managers should be able to run their companies well. But firms would draw from the commons, which means that these firms should draw from the business environment in which they conduct operations. Business leaders have the capacity to affect the commons in which they draw. Also, if a firm were to improve on its commons this would lead to an increase in the profitability of the business. Therefore, these firms should opt to improve and develop these commons in order to gain more profitability in the long run. Competitiveness is of great importance in America; one of the reasons why this is so is because when a firm is considered to be competitive in America, it is already considered to be successfully competitive in the global economy. The United States can only achieve this level of competitiveness...
Words: 2066 - Pages: 9
