We all know the job market is tough these days. And there are dozens of theories about the causes of the current job market downturn. However, an obvious observation is offered by Richard Freeman, an economist at Harvard University - the size of the global workforce has doubled in the last 10 years. A global readjustment of the work force is clearly underway.
This change greatly increased the size of the global labor pool from approximately 1.46 billion workers to 2.93 billion workers . . . I have called this 'The Great Doubling' . . . What impact might the doubling of the global work force have on workers? . . . You don't need an economics PhD to see that this would be good for employers but terrible for workers.
Freeman attributes this shift to the entry of China, India, and the former Soviet Union into the global economy. We all know about the boom of software developers in Eastern Europe. And anyone who has called a service or tech support line has probably talked to a call center based in India. And China is gaining ground in global manufacturing and other economic sectors.
So the ripple effect has turned into a tidal wave for the North American work force. Outsourcing is turning into job scarcity, which means American workers have to work twice as hard as ever to compete in the job market. This is why I assert that now is the time to start thinking about competing on a global scale. Don’t limit your job search to your neighborhood or regional market (if you have a choice). Now is the time to market your expertise worldwide.
