Friday, February 23, 2007

Job Competition in a Global Economy

MarketWatch has a good article entitled "Six strategies to stay competitive in a global labor market." The point of the article is that, in an increasingly globalized economy, employment positions are not as stable as they once were thanks to increased competition for jobs among those with the proper skills regardless of geography. The article goes on to elaborate on what workers need to do to remain competitive in the job market.

One of the things I like about this article and the trend it reports, is that workers will need to focus more on basic abilities like communication and team work, rather than specialized skills.

Another is that it recognizes workers as competitors in a market the same way that everyone tends to look at businesses as competitors. Just as in business, competition will result in a better product (labor) for the consumer (businesses) which will have a trickle down effect an benefit the entire economy the same way that competition among businesses does. On a less sterile note, workers competing among each other and, therefore, finding new ways to improve themselves for the sake of bargaining power in the marketplace also has another, less economic benefit - people will, speaking in very general terms, become at least marginally better people in the process. What I mean is, basic abilities like communication and team work are not only valuable in the workplace - they apply to the entirety (or most of it anyway) of one's life.

Thus, not only do I believe that this increased competition in the labor market is a good thing economically, I think it is a good thing in general for society.


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