This is an excerpt from Lou Dobb's Show last night .College degrees will not be needed anymore in this country as stated by
U.S. News & World Report".As someone else mentioned in another post how well this fits in with putting lead in toys.Then without economic mobility we can emulate India.

TRANSCRIPTS

ROMANS (voice-over): Offshoring and automation are sending so many jobs overseas, "U.S. News & World Report" has updated its best careers guide. Consider a career's resistance to offshoring, suggesting, quote, "even college grads might want to consider blue- collar careers."

Among them, firefighter, hairstylist/cosmetologist, locksmith, security technician and biomedical equipment technician. The job market is clearly undergoing a dramatic shift.

LAWRENCE MISHEL, ECONOMIC POLICY INSTITUTE: Ten years ago we were told we didn't really need manufacturing, that people needed to shift to the information age jobs. But now we see the information age jobs challenged by offshore competition.

ROMANS: Pressure in wages in those job categories, he says, at the same time manufacturing, an important stepping-stone to the middle-class, is moved wholesale overseas. Since 2001, the economy has lost about 3 million manufacturing jobs. But, as the president points out, there have been 51 straight months of overall jobs growth. And the unemployment rate is a low 4.7 percent.

GEORGE W. BUSH, U.S. PRESIDENT: I fully understand the pinch some of you folks are feeling. Having said that, this economy's pretty good. There are some -- there's definitely some storm clouds. And concerns. But the underpinning is good. And we'll work our way through this period.

ROMANS: But if the economy slips into recession next year ...

PETER MORICI, UNIVERSITY OF MARYLAND: Either we won't create many jobs or we'll lose them and the jobs that we create won't pay great wages, because we're simply not doing very well in construction and manufacturing and the other areas that traditionally offer good, solid middle-class jobs to working Americans.

ROMANS: Wages have been falling for years now. According to the Economic Mobility Project, median economic for men in their 30s dropped 12 percent over the three decades beginning in 1974. Jobs growth in the past few months has not kept up with growth in the working-age population.

(END VIDEOTAPE)

ROMANS (on camera): This the first time that "U.S. News & World Report" editors have considered what they called offshore resistance in their best careers categories. Why? The magazine says at the same time we're sending ever-more students to college, corporations are offshoring and automating jobs that require the college degrees.

PILGRIM: It's interesting because the shifts occur so quickly in this global economy. It takes a while for the knowledge of society to catch up where you get an article like this.

ROMANS: It's absolutely right. And what about the ladder to the middle-class that people have climbed through those, you know, manufacturing jobs and the like for so many decades in this country? Are we replacing them? As Larry Mishel pointed out, you know, we were told information technology jobs were going to replace those. Now we're told that those can be offshored, think of something else. People's education and careers don't move as quickly as this global economy seems to be moving.

PILGRIM: It would certainly help if we don't have administration officials denying the trend as it is actually happening.

ROMANS: And trade policies that actually exacerbate it in some cases.

PILGRIM: Thanks very much, Christine Romans.

Aired http://transcripts.cnn.com/TRANSCRIPTS/ ... dt.01.html