Job Churn in Georgia

West Point today isn't the same town Ferguson grew up in. Textile company executives used to live here. But when the textile industry collapsed in the 1980s, the victim of foreign competition, they moved away. Thousands of jobs were lost. A few small technology firms took up some of the slack. But the high-tech bust of the late 1990s proved to be another job killer. "We survived without a federal bailout," Ferguson says sarcastically. Now, while much of America wallows in the gloom of a recession, there's great joy in West Point. "West Point will have more economic growth in the next 24 months than anywhere else in the country," Ferguson boasts. And he may be right.

KIA has come to town. The Korean automobile manufacturer is building a huge assembly plant, which will employ 2,900 workers when it begins turning out cars a year from now.

That's a section from Fred Barnes' story about the "other American Auto industry" in the U.S. -- foreign brands or "transplants." The story is filled with interesting anecdotes from the field and some good analysis. But I especially liked this paragraph above which captures three cycles of creative destruction over a short span of time.

Comments

[Job hunting]

Unemployment keeps rising with more factories closing as the infrastructure keeps collapsing and the cost of doing business is rising. In these turbulent economic times, a lot of people are out job hunting. Job hunting in a dismal economy is a daunting task. Going in for a job interview can be stressful and intimidating, but the best thing you can do is stay positive, follow up every resume you turned in and, during the interview, make sure you don’t let on that you’re just after the salary. Don’t tell a prospective employer about how you’ve dealt with unemployment or how you've needed payday loans to survive. Be the best candidate you can be. If you interview well enough, you won’t have to worry about job hunting for too much longer.

[Aparna]

job churn also is the source of tremendous anxiety as each lost job represents an individual who is now faced with uncertainty for his or her future. Uncertainty regarding healthcare benefits, and retirement.

[jimmy choo]

yes, it may be a source of anxiety.