Who Will Be the Boss Now?

Jobs, Jobs, Jobs. The biggest fear I had last August was the issue of the job losses that were being predicted for the fourth quarter of 2008. Even those predictions never came close to the 8.1% level reported Friday. My fears had everything to do with the correlation of our economic health to consumer spending. If people aren’t working, then spending goes down and the economy begins its wobble.

This reminds me of my own experience in the early 80’s when unemployment went over 10%. At that time we called it an “employers’ market.” Now in retrospect, it also defined a generation of workers (yes, the Yuppies) that believed that working 70-80 hours a week was the way to pay your dues in order to climb up that corporate ladder. The result was the necessity of a 2-income family, young parents trying to hold it together by working these insane hours, never saying “no” to the boss, raising a family and figuring out who you were – all at the same time.

In those days, employers would tell you that if you didn’t like something, feel free to leave because there were “10 people waiting in line waiting to take your job.” Now compare that to say, 5-6 years ago when college graduates were receiving signing bonuses even before they received their degree!

I’ve got a feeling that we’re headed back to that “employers’ market” mentality. It will be a world where the boss tells you what to do, what to wear, when to leave, and much you will earn. For those who have been working in the best of times these past 15 years, it’s going to be an adjustment to learn how to keep your gripes to yourself and keep your job.