Jobs Come & Go

Op-Ed

To get a taste of what this article has in store, we might need to first look back at the previous one. The intricacy of the job market is a multifaceted shtick which needs ceaseless care and attention, organized by the state and the business sector of the country. It is no news that economies are susceptible to recessions and force majeure of various origin, like pandemics, taking the world by surprise. In times like this, humankind changes manner, way of life and habits of making money, the latter being the most painful among the due alterations. Recession is only the beginning of possible deterioration of our lifestyle, which may turn into a crisis, and that crisis may grow into a real economic catastrophe.

The fun part of the potential disaster though is that every cloud has a lurking silver lining for some of us who happen to be better thinkers than others, aiming at making money in times of frustrations and hardships. Those distinguished brains know well that Man never stops working. The internal human drive to survive is almost instinctive, which would theoretically mean that job markets are never devoid of a chance to work even during the worst economic calamities.

Sure, the number of available jobs changes from time to time, and their content goes through certain adjustments too, but this is less important than the fact that there is always enough work around if one knows what to do and how to do it, thus perpetuating the unique ability of the human brain to fill the stomach. It is also true that we never know exactly when jobs come and go, where they come from and in what numbers- but they always do.

On the other hand, the presence of an ample number of jobs is not enough to have the market operate effectively because some people are not ready to work for the available wages, conditions and obligations. This might sound like a slight overstatement in Georgia but there is a certain amount of truth to it that has to be honored. Addressing the government with reprimands for the lack of work is a style that is gradually becoming obsolete. Moreover, there is nothing more inadequate than waiting for a job that comes on a tray, garnished with an impressive paycheck. It is time for all of us either to accept what is available on the labor market at a given moment, or be good enough to employ our own selves by means of creating a job or a number of jobs to employ others too! We cannot expect the economy to be healthy on a permanent basis, but when it is strong, it always creates enough jobs to let most of the people work that are available to be employed. The remaining part constitutes natural unemployment between 5 to 7% in developed countries.

What matters most is our ability to keep up demand in the market for our labor. The coming and going of jobs, as well as their quantity, depends on the so called labor participation rate, which means the entire diverse labor force desiring to work or searching for employment. New companies entering the country’s economy are the most prolific job creators, which could be a real panacea for Georgia’s job market, offsetting the detrimental labor picture, created by retirees, college involvement, military service, illness, home-staying mothers, etc. These are the contributors to job market shrinkage, whereas the cherished goal is the reduction of unemployment, and for this, employment efforts should grow faster than the labor force itself. Will this ever happen in Georgia? Hopefully, yes but so far, there is a regrettable disparity between the two crucial variables: the tempo of employment and the growth of labor force size.

Ultimately, what we make depends on our productivity, and if our productivity is propped up by modern technology and the benefits of globalization, then it pushes our earnings up, but wages differ, depending on skills and education. So let us, the entire nation choose useful skills and relevant education that easily translates into money-making jobs!

By Nugzar B. Ruhadze

Image source: aid.edu

16 March 2020 18:12