In this post we are going back to the workplace to give some of our younger reader’s encouragement. The last major work force shift was via globalization. Many of you are too young to remember a time when globalization WASN’T prevalent. When everything wasn’t made in china, as an example. I’m not here to say globalization is good or bad, but it’s an example of how work can change dramatically.
The latest shift was hastened by the pandemic that is the “great resignation” which coincided with a huge increase in people working from home. This shift is evolving but similar to globalization this will have a dramatic impact for the next 20-30 years. Globalization didn’t happen overnight, it took decades and now it is here. The “great resignation” impact is being felt now but it’s really just beginning. This is why the younger you are the brighter your work future looks.
Why? Three major reasons.
- Remote work – in 2015 remote work was a novelty now it is main stream. It’s not going away and its upside is hard to quantify but I will try. Less time traveling to work, more opportunity to work at convenient times for you. More options for work. You see Remote work is a game changer in so many ways. Younger workers are going to be able to adapt quickly and in some cases hold more than one job making much more money.
- Boomers & Gen Xer’s – We are getting older. Many boomers have already left the work force. I will be gone in 15 years myself. There are more of us working in traditional industries then the younger generations (some Gen Z kids are still in high school). The more of us that leave the more positions that open up. The work isn’t going away, it still needs to be done and companies need someone to do it. This ties in to the point below as well but as Gen Xers age out of jobs you’re going to have more chances at middle and upper management roles, that’s where the real money resides.
- Birth rates – People are having less children and they are having them older. This really started with my generation xers. Many of us had our kids in our 30’s and our family size dropped from prior generations. This trend is continuing, along with lower marriage rates as well. The bottom line is there will be less people in the workforce coming in 20-30 years from now. So the 20-40 year olds working now? Things look good for you here, newer, younger cheaper versions might not be so plentiful in say 2050.
I know conceptually some of this might be a stretch but it’s not out of the realm at all. I think most of these suppositions are actually highly probable. It could be that we experience another huge labor force shift on a shorter time span then normal (they usually happen every 35-100 years). Technology is moving quickly so it might be global companies have an even broader pool of candidates should they continue to evolve remote work.
Either way I think it bodes well for younger workers. I think in 2050 the people turning 40 will have very good employment opportunities and income levels should be very robust. This of course doesn’t account for anomalies like pandemics, war, environmental disasters. Let’s not kid ourselves things could go badly, but if things remain the same as they are now I think working in the next 20-30 years will be easier. You will have better options, more availability and a greater pool of employment opportunities.
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