Job creation

Looking at 2010 and beyond, the biggest question about the economy is will there be enough jobs? I believe we are in the midst of a few significant changes in the fundamental nature of our economy. During the course of our history this country went from being a country that supplied commodities to Europe, to a Manufacturing powerhouse, to a service economy. Of course, in many cases the transition is notable because of the growth of the new sector, not the disappearance of the old one. We still supply a great number of commodities to both our domestic and foreign markets and manufacturing in this country still dwarfs most of the world. However, the percentage of people working in these industries in comparison to the total decreases as the new area grows.

Now, the service industry is still expanding relative to manufacturing and commodity related employment. However, we are starting to see technology starting to impact that growth. In the low end area, sales clerks, cashiers, and other retail jobs, we are seeing an ongoing increase in online retail (eliminating many of these positions) and increasing efficiencies in processing in-person transactions. In higher end service areas the technological impact has been somewhat less pronounced, but the on-line availability of expert advice and the growth of Artificial Intelligence applications is starting to impact that area also. These trends will limit the growth in service jobs. Now some service areas will continue to grow in areas such as health care, both because of the aging of the population and the Government's extending health care to more people.

However, if we really want to create jobs one area that can be self sustaining is in renewable energy. Consider the fact that this country exports a tremendous amount of wealth every year to import energy. The more we start to rely on domestic and renewable sources, the wealth will stay hear. The conversion to a more energy efficient and renewable energy profile will reinvigorate the economy.

It will lead to new construction or modifications to more energy efficient homes, production of energy efficient automobiles, conversion of plants and factories to more energy efficient profiles and reduce the balance of trade deficit. If this can be combined with a smarter tax system that makes sure everyone profiting in this country shares the tax burden, I believe we will see a revitalization of high technology manufacturing in this country. The number of jobs in alternate energy and related areas is I believe how we will restore jobs to this economy.