The news source Axios reports on young workers in Asia. They seem to be turning away from factory jobs in large numbers. A story that originates with the Wall Street Journal says brands like Lowe’s and Hasbro “are having a hard time recruiting and retaining younger [Asian] workers.” It’s a problem in places that include India, Malaysia, Indonesia, and Vietnam.
This trend, if it continues, will have consequences for consumers worldwide. Our multinational corporations will have to pay more either for increased automation or higher pay for workers. So we may expect to pay higher prices “on everything from clothing and electronics, to toys and furniture.”
Driving the trend may be social media access that younger Asians enjoy, says Shawn Nelson, CEO of furniture brand Lovesac. “Once they can see the Kardashians, they don’t want to do [factory] work anymore,” he told the Wall Street Journal.
Axios’ Hope King calls the development “right-sizing.” The hunt for “cheap labor” has always dehumanized a large part of the world’s population,” she says. These workers’ tedious work subsidizes much of what developed economies take for granted. “Asia’s young workers are then justified in their aversion to the types of jobs that previously defined their value to the rest of the world. Companies and consumers having to pay more to make them happy seems like a right-sizing.”
About Axios
I have found Axios, reporting mostly financial news since 2017, to be a helpful source. Their guiding beliefs include:
- Misinformation and the erosion of truth, often propagated on social media, are existential threats to democracy.
- Human activity is posing threats to Earth’s climate.
- America’s capitalistic system brims with economic possibilities but is often stacked to favor the powerful and rich. The system exacerbates inequalities that need to be addressed.
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