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The Labor Crisis - Essay Example

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The proposals are embracing the economic graph in a similar manner to that imposed by technological transitions, availing more H1-B visas to strengthen the labor market, and linking education with the available opportunities (Weiner). According to Weiner, the current unemployment rate lie at 9.1%, a figure that seems small until one translates that percentage to actual figures. This percentage is approximately 25 million unemployed individuals living in America, not including those that are underemployed and the marginally to the labor market. In general, close to 20 percent of all American household feel the impact of the crisis, a quite significant portion of the population considering the current economic times (Weiner). Despite this, the labor market has more than three million vacant job positions. This is according to the Bureau of Labor Statistics in the country. The possibility of such a phenomenon is still a question. What the statistics imply is that the available labor force in the market is not qualified to occupy the available vacant positions. The article gives examples of the US subsidiary of Siemens, which is searching for 32,000 qualified candidates to fill its open positions. The list of companies that have open opportunities range from giants like Microsoft, to small-scale business like Begal Enterprises, all of whom are struggling to get appropriately qualified candidates for their open positions. To salvage the situation, Weiner suggests that the only viable long-term

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solution is to match job openings with workforce. His first proposal, as would be expected, comes from a technological point of view. The LinkedIn CEO suggests the embracement of an economic graph. From the recent technological revolution, it is clear that economic transitions currently take a few years, unlike the traditional agrarian system. Weiner takes the example of significant graphs associated with social media to critically design of a strategy that would enable easy access of open jobs by applicants, and qualified applicants by employers. The successful social graph concept from Facebook, the professional graph from LinkedIn, and the interest graph concept from Twitter are the prime examples that creating an economic graph would be successful too. A visual concept of the economic graph would be to imagine a situation in which all open job opportunities, whether temporary or full time, are digitally available, with appropriate links to the company that offers them and the skills that they require. Applying the personal profile principles of social media networks, every worker in the country would have a digital profile account that displays their skills, experiences, and ambitions (Weiner). This would enable individuals to have and develop a professional identity, with networks and adequate knowledge concerning jobs, as well as fulfilling their career ambitions. On the other side, employers would easily find qualified individuals to fill their open job opportunities. In the end, both the employee and employer benefit from the economic graphs. Weiner’s second suggestion concerns H1-B visas and immigrants. He suggests that allowing, or rather attracting more professional into the country would go a long way in maintenance and creation of more companies in the country, with the economic consideration that taxes and revenue from purchase of goods by such companies will contribute to the US economy.

Summary

Name Institution Course Instructor Date The Labor Crisis The article by Jeff Weiner, the Chief executive Officer of LinkedIn (a social website), addresses the current crisis of unemployment in the United States of America, and furthers proposes several remedies that will possibly contain the problem…
The Labor Crisis Essay
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