I forsee a few companies laying employees off, and or moving to offshore production. The only industries that will be left here will be service sector and public.
inreb - I wouldn't put a nominal maximum wage based on a position. What they should do is reduce wages until there is an acceptable ratio of number of employees applying to jobs. Cops/firefighters/teachers for example have thousands of applications the second a position opens up. That indicates there's a serious problem with the level that's being paid. A firefighter friend of mine was chosen amongst 3000 applications the last time he got a promotion. Wages in the public sector should be dialed back until there is lets say 50 applicants per position or some other reasonable number. Furthermore, when a position is grossly overpaid, you attract the worst people which pushes out the best. Paying a teacher $95000 for a position that should be paying $55000 entices people that have no desire or skill dealing with kids to apply for the job. Then these people when they get the job end up with some kind of stress disorder, costing the tax payer even more, because they weren't inherently capable of doing the job. Firefighters are another prime example. All of them want to be firefighters because they think that they'll work 7 days a month, sleep at work, and end up with their picture in the paper because they saved a baby from a burning building and be a hero. All the while starting with a nearly 6 figure salary. So by droves they apply, they aren't capable of being firefighters emotionally, but they want the lifestyle. A few years later, *if* they make the 1 in 3000 cut and actually land a job, they end up with PTSD because pulling a mutilated child out of a car after an accident is not what they were equipped to deal with. If the government paid less, they'd end up getting more.
inreb - I wouldn't put a nominal maximum wage based on a position. What they should do is reduce wages until there is an acceptable ratio of number of employees applying to jobs. Cops/firefighters/teachers for example have thousands of applications the second a position opens up. That indicates there's a serious problem with the level that's being paid. A firefighter friend of mine was chosen amongst 3000 applications the last time he got a promotion. Wages in the public sector should be dialed back until there is lets say 50 applicants per position or some other reasonable number. Furthermore, when a position is grossly overpaid, you attract the worst people which pushes out the best. Paying a teacher $95000 for a position that should be paying $55000 entices people that have no desire or skill dealing with kids to apply for the job. Then these people when they get the job end up with some kind of stress disorder, costing the tax payer even more, because they weren't inherently capable of doing the job. Firefighters are another prime example. All of them want to be firefighters because they think that they'll work 7 days a month, sleep at work, and end up with their picture in the paper because they saved a baby from a burning building and be a hero. All the while starting with a nearly 6 figure salary. So by droves they apply, they aren't capable of being firefighters emotionally, but they want the lifestyle. A few years later, *if* they make the 1 in 3000 cut and actually land a job, they end up with PTSD because pulling a mutilated child out of a car after an accident is not what they were equipped to deal with. If the government paid less, they'd end up getting more.
