Posted by: Audrey Erbes | October 12, 2011

Jobs that Crossed My Desk Through Oct. 12, 2011

With all the attention on politics surrounding President Obama’s Jobs Bill  and the expansion of Occupy Wall Street demonstrations  across the country, I’m trying not to get discouraged about possibility of real job creation soon. There seems to be some good ideas coming out but not the political will for Congress to agree and pass some legislation to get people back to work–especially, those out for more than a year and running out of resources. Clearly, the American people are disgusted with Congress giving them the lowest rating ever at only 14% approval of what they are doing .
It makes my heart ache to see well trained and educated professionals in our field also suffering as new job creation in life science moves to BRIC countries and slows down as new companies have difficulty getting funding. The good news is that hiring is back up in our cluster but there is still a large backlog of those applying for the available positions.
I’m hearing rumors that big business has gotten their fingers burned in moving research overseas and now is starting to limit investments to manufacturing of products to be sold in those countries. Costs of salaries and coordination of American workers sent to manage these research labs hasn’t saved as much money as anticipated. Also salaries of highly skilled worked in country are going up. Certainly the risk of having IP stolen is another deterrent for doing original research in China as recently reinforced by Treasury Secretary Timothy Geithner in his recent remarks about China’s policies regarding foreign IP.
VC investments are down over 30% this year and expected to continue at that rate in 2012. But perhaps as some analysts claim, the industry’s investments are getting right sized to match earlier periods of expansion of biotechnology in the Bay Area. I lived through this right sizing in the mid 1990s as VCs chased high tech leading to the dot.com bubble at the beginning of the new century. Now we see investments pursuing social media.
One hope is the repatriation of profits from overseas for large corporations at low tax rates but with requirements that the money be used to create new jobs here rather than buying back their stock or using the funds to invest overseas as happened with the last repatriation. Tens of billions of dollars were repatriated by pharmaceutical companies the last time but weren’t used to expand employment in the U.S.
Don’t get discouraged and keep networking and gaining new skills to remain competitive. I’ve linked this week’s list of jobs for your information. Just richt click on the highlighted title Jobs that Crossed My Desk.
Hoping you’ll find something that fills your needs for career advancement or gets you back into the workforce if you’re in transition.
Audrey
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