The global job market is being left behind by an “adverse effect” of globalization, the head of a global job search firm has warned, in an article that draws on the experience of his peers and others working in the field.
In the article, titled “The Job Search Bubble Is Dead: How Job Hunters Are Being Dumps Into the New Economy”, Gautam Khosla, who leads a job search consultancy, points out that many of the global job openings have been cut in half over the past decade.
“Many job openings are being taken off the market,” Khoslas wrote in the article published Wednesday in Bloomberg Businessweek.
“It’s not because there are more jobs, it’s because jobs are being offered at a lower price,” Khasla said.
Khoslas is referring to the fact that job hunting companies have cut back on the number of candidates they are able to accept.
They have also started to look at hiring more people from the private sector, such as doctors and lawyers.
This, Khoslos writes, has also led to an “alarmingly large number of job seekers from overseas leaving the country, leaving the US and the rest of the world with no real job market for those who are looking for jobs.”
Khoslavas writes that the job search industry is “in the midst of a major crisis”.
Job seekers from China, India, Brazil and others are leaving for the U.S. and Europe to fill the voids left by these global job vacancies, Khaslas says.
The situation is so bad that job seekers can’t even get hired for their existing jobs in their home countries, Khashlas said.
The Economist Intelligence Unit says that job hunters are losing an estimated $500 billion a year in potential earnings because of the shortage of workers.
Khashlas also cites a report by the McKinsey Global Institute that found that nearly one in three job seekers in China have never been hired.
Khaslas also pointed to a recent survey by The Washington Post showing that nearly half of jobseekers in the U to U.K. have never had a job.
And while Khoslahas says there is a big gap between the demand and supply of jobs, he points out there is still plenty of supply, as the number one demand in the job market, he writes.
“The problem is that we are not really creating a market,” he said.
“There are still lots of people out there who are unemployed.
They are going to have to go find work.”
But while there is demand for the job, Khaselas says that the number is low, compared to other developed economies, and that the supply is not large enough to compensate.
The shortage of people Khaslos is talking about is also in large part because of globalization.
There are only a handful of jobs in the United States for people of European descent.
The problem with that is that they are going out to places where they can’t find work, Khasheras says, like Mexico and Canada.
In a world where people are trying to figure out how to get by, Khaskas says the lack of demand is a problem, because employers are not going to hire them.
Khashera says that this is a situation that could worsen in the future.
“If you look at the data, the trend is that people are going abroad to find work,” he wrote.
“But we are also in a global economy, where jobs are becoming less available in the world.
That means that many people are left behind.
We are all going to go back to the place where we came from, the place we are from.”