Why Bad Jobs-or No Jobs-Happen to Good Workers

Here is a fictional account that illustrates the point:

John Doe currently writes C++ and finds Company A with great benefits and excellent compensation, but they only hire experienced Python programmers. But across the street, Company B will hire C++ programmers and train them on Python. Company B doesn't pay nearly as well, and the benefits are also pretty poor in comparison to Company A.

Company B offers John a position, but at a below market salary for Python programmers. John would be taking a pay cut from what he makes as a C++ programmer, but he takes the job anyway.

Being a highly capable individual, after 1 year John is one of the top Python programmers in Company B. John meets some engineers from Company A at a local meetup, and they recruit him to come interview with Company A. John passes the interviews with flying colors and is offered 30% more salary at Company A than he currently makes at Company B. This is now more than John ever made as a C++ programmer so he gladly takes the job, after only staying at Company B for a year.

Similar events occur with many more employees from Company B as they all start getting poached by Company A. Company B creates a non-compete agreement with Company A to keep its programmers from leaving.

Company A now complains to Congress that it can't find enough workers and needs to hire more foreign workers to fill the gap. It gets more foreign workers, which it can then hire at lower salaries without having to poach talent from Company B. Over time, the executives at Company A realize the cost savings and start cutting salaries, raises, and benefits.

Engineers at both Company A and B now realize their wages are stagnating and they all start leaving for other opportunities. Executives at Company A and B start lobbying Congress more and complaining to the press about a talent shortage and their inability to find workers.

People always dismissed it, when I told them - if only I was born x years earlier I would have graduated at the start of the boom cycle. I would have landed a high paying role out of college/Uni and earned enough cash by the end of the cycle to see me through the bust years. With the work experience I would have a better chance competing against new grads. Considering the value of money etc, benefiting from a 2/3 boom cycle could put you well ahead financially.

While this is rather simplistic and exceptions to the rule, timing can make one hell of a difference.

Nope, the cat is the cat o' nine tails, when it was taken out of its bag, it was because someone was about to be punished. No idea what he means by this comment.