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Word Count: 708
Recently an epochal event took place in our economical society While there has been a slight decrease of 56 in unemployment the number of those that are white-collar workers in managerial positions has rose to 43 of the total jobless community Obleen 1 Stephen Roach of Morgan Stanley believes that this rise in managerial layoffs stems from the over investment in information technology as well as the masses of white-collar workers that were hired to handle and master the new technology Koretz 1 The high expectations for productivity in the field of information technology led to the excessive fabrication of high paying high level jobs However the efficiency of this newfound trend is not as productive as corporations believed it to be Therefore cutbacks are needed to accommodate the costs and money lost Another reason that white-collar workers are steadily losing their jobs is due to preventive measures While America is not officially in a recession two straight quarters of negative GDP growth corporate fears that the worst is yet to come and are preparing for it Healthy companies are trying to reduce costs and increase production by reducing head count by layoffs of nonessential high paid employees Morris 1 Some highly educated yet unemployed workers are fighting back against this trend by starting their own businesses They used the knowledge they learned while in large firms to their advantage Still others are accepting jobs with lower pay in exchange for greater moral satisfaction Both of these solutions tend to result in more stable job security An unwillingness to relocate by many white-collar workers has caused managers to make up 48 of those unemployed for 27 weeks or more This statistic is up from 39 a year ago Obllen 2 With the fear of being laid off set into top pay employees they have found a way to avoid job loss for as long as possible The strategy is known as reengineering Managers
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