Quote:
Originally Posted by Hali87
Something that I think is overlooked when people worry about the "rapidly aging population that will retire soon" in NS and the difficulty in young people finding jobs - is that these two things are directly linked, and when the older generation retires en masse, suddenly a lot of very good jobs (with very inflated salaries!) that had previously been unavailable will become available. A lot of the struggling younger generation (or whatever's left of it by then - when is this demographic cliff?) will take up these jobs, and other people will move here to take the rest, if there are any left.
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Except those "very inflated salaries" will leave with the retirees. Companies will replace their jobs with much lower-salaried entry-level positions and will likely not inflate the salaries of those moving up on the ladder to any great extent as they had done in the past. Plus, companies are tending to run more "lean" these days and oftentimes don't replace outgoing positions with an equivalent number of new positions, or will replace some of those positions with outside contract employees that they do not have to take responsibility for. So all in all, it is a little less rosy than it appears on the surface.
Mind you, the companies will still make out alright as the money saved will help pad their profit margins (cynicism alert).
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