Sunday, August 28, 2011

The Employment Picture Beyond Silicon Valley

As I have mentioned many times, one beneficiary of current Federal Reserve money supply growth is Silicon Valley. Here are a few others.

1. There's strong demand for truck drivers.

2. Las Vegas casinos are hiring again.

3. Oil drilling is resulting in demand for workers in Oklahoma, Texas and North Dakota. The unemployment rate in Oklahoma City is at 5.7%. The unemployment rate in North Dakota is 3.3%.

4. Tech sector jobs beyond Silicon Valley are also strong from Denver to North Carolina.

All the people employed in these sectors are on the early edge of the coming price inflation, and will in general experience price hikes ahead of the the inflation.

If you are, say, a librarian in California, a grocery store clerk in Florida or a janitor in Chicago, you won't be so lucky. The price increases will come before the wage increases. It will, in other words, mean a decline in your standard of living.

1 comment:

  1. Thanks for pointing out how inflation affects different professions differently. One addition would be that the bankers are the first in line.