I made it to the end! They think we'll botch retraining. ...While the pace of technological change is arguably accelerating, we have seen no evidence yet that the rate of human adaptation to jarring economic dislocations has improved. If anything, the experience of the two recent US recessions points in the opposite direction—an aging labor force is becoming less able to learn new skills and find work. The demographic outlook for the next decades suggests that the labor force's speed of adjustment to disruptions might actually worsen.
Our base-case scenario forecasts an acute shortage of highly skilled, high-income workers in the 2020s as investment in automation technologies takes off. Over time, workers will acquire new skills and migrate toward the jobs in demand. However, shifts of this nature take a considerable amount of time.
"That's certainly the safest bet," said the guy who just Gantt charted 300 credits across 4 years so he wouldn't have to give up his old job before his new one was ready. So. Having read both the LBJ special and the McKinsey should I bother?They think we'll botch retraining.
I have to be up for work in five hours and I just got done looking at a bunch of skinks on Wikimedia for the past half hour or so to try and get me tired and it's not working and so I don't know if I'm reading what you're asking right. If I am though, man, I'd rant right now. If you can do it without risking your finances, your job, or your family life, shit yes you should. At the very least, it'd make you a bigger you in ways you can only begin to imagine. You're looking at school to learn skills, expand yourself. It's not like you're thinking about taking yoga or signing up for Crossfit. ::Sheesh::should I bother
Lol I meant should I read the Bain ;-) Not only is the 'should I bother changing careers' question one I wouldn't trust to random d00ds on the internet, but I've arranged it so I'm three whole years before I have to decide. Thanks for the concern, though! PS reading economic reports will put your ass to sleep right quick
Skimming the first bit of the McKinsey, I feel like you can probably guess what Bain has to say. Every time McKinsey says things could go well, just assume that it doesn't. The gist I got of their roadmap is that they think there is a good chance we'll Boom (capital investments, increased productivity), Bust (wage depression, pension crisis, unemployment, slow retraining), and that the Government will then get hands on again. I skipped over some of the "here's how your leadership teams can prepare for the future in the exciting WORLD OF BUSINESS" bits, so I might have missed something but I don't think so.