Despite the recent December job loss announcement, employers remain upbeat about the future in 2010 and their ability to recover quickly once the economy shows signs of growth.
Speaking to a joint congressional sub-committee on Economic Growth, several Fortune 500 top executives feel that the layoff storm is indeed "subsiding". That coupled with the great wealth of green card holders, work visa recipients and resident aliens available for inexpensive labor, US companies were uniquely poised for a quick recovery in a competitive global marketplace.
"We expect to cut our long term labor cost even further in 2010 and 2011 with US labor layoffs, but the good news is that it will represent a net gain in overall employment statistics when we fill those positions with alternative labor", says WankuBank president, Hyrum Elsewaire. "By switching to contract based, cheap hourly or offshore labor, we expect to save millions in labor and benefits expense".
"Thank God for the previous administration's loose grip on inbound worker requirements, just about anyone can come here, take a white collar position and send all their money back home", says Alton Ovbrikks, Vice President at Federal Electric.
Critics fear that the consumer side of the equation isn't balanced. "If we're just focused on employment numbers, regardless of who is being employed, there is still no guarantee of a recovery", says economist Poindexter Pantlode. "Many temporary aliens or work visa holders don't stay, don't consume, don't buy durable goods because their residency isn't permanent."
As white collar jobs dwindle, US Job Corps and state unemployment authorities are gearing up re-training programs for the millions of Americans who will remain jobless during the recovery. Top positions identified in the retraining program include: Hall Mart greeter, Lone Depot plywood stacker, coffee shop barista, bagel shop cream cheese distribution engineer, lawn service manager, cemetery landscaper, retail money exchange technician, and plumbing system blockage removal specialist. Top jobs are expected to pay up to $15hr. Just a hair or two above the poverty line. Good news for all.
