[PEN-L:2468] The high tech jobs

["Peter.Dorman" <23215MGR@xxxxxxx>]

Sid,

I expect that the laid off workers from telecom and computers will be replaced
by either new employees on a different basis (less pay, benefits, and
influence over the company) or through contracting out -- with similar
consequences. Yes, there will be some speed-up and technological replacement,
so that not all jobs will be recouped, but the net loss will be far less than
the layoff total.  While I don't have the numbers handy, I think this is borne
out by evidence from previous layoffs: many workers were cut but gross
employment figures in the affected industries didn't change so much.  Am I
right?

Peter Dorman