From the recent past: In their rampant, salivating lust for our jobs, apparently there was a brownout in their famous math abilities, or perhaps they also don't know much about history. Notice no one questioned Jeff Taylor's predictions, as he was telling them what they wanted to hear, no matter how obvious the errors.

Enjoy, and savor what eagerly printing things like this reveal about the psychology of the third world towards us.

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http://www.ciol.com/content/news/2004/104071503.asp

US to face worst labour crisis in 2008
Placement major Monster Inc. chief relates how crucial outsourcing would be to the US a few years from now and the opportunity it presents for India.

Thursday, July 15, 2004

BANGALORE: Dismissing the current outsourcing controversy in the West as a short term "pain" before the long term benefits of IT sourcing are realized in the US, Monster Inc.'s founder and chief Jeff Taylor predicted tremendous employment opportunities for Indian IT in the coming years.

"Right now, there are half-a million Indian IT professionals working on US projects. I expect the number to touch three to four million by 2008," he said. He predicts that by 2010, the US would issue H1B visas to a massive number of Indians to stem its yawning labor shortfall.

Tracing the industry trends in the US, he said, "It is predicted that the US would face the worst ever labor shortage in 2008, largely because the baby boomer generation which makes up for around 60 million of the US population, would retire by then. The number of entry-level workers would also be low at around 25 million."

Addressing his first Indian meet since his company acquired Indian online recruitment firm Jobsahead.com for $9.6 million in June this year, Taylor said that the Internet could be used as a catalyst for driving change and addressing the skills shortage.
Stressing India's employment potential, he said, "India produces three times as many college graduates as the US. We need to educate people about the long-term benefits of a India-US relationship."
Added to these labor woes in the US, is the spiraling increase of customer care job salaries. "Over the next 10 years, call center jobs in the US are going to dry up because they cannot afford to keep these employees. The industry would have to tap India's tremendous cost advantage."
Given this scenario, Monster expects to play a significant role in filling in the recruitment needs with the Jobsahead acquisition. The coming together of both companies has brought the total number of resumes to 2.7 million and membership clients to 4,000. He urged companies to use technology and the Internet effectively for retooling systems and increasing effectiveness.

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For the record: it was their salaries that skyrocketed, ours were flat and falling. Their own leaders were recently in the press lamenting that only around 1 in 4 graduates was really employable. And, the baby boom generation spans around 20 years, give or take, from around 1946 to 1964 or thereabouts.