Economic, Demographic and Technological Change James W. Hughes, Dean 2014.

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Presentation transcript:

Economic, Demographic and Technological Change James W. Hughes, Dean 2014

Home of the Edward J. Bloustein School

Business CyclePhases Expansion: November December 2007 (Great)Recession: December June 2009: 18 months in length Current Expansion: June 2009 – September 2014: 63 months in length Average Duration of Post-WW II Expansions: 58 months

U.S. Private-Sector Employment Change Source: U.S. Bureau of Labor Statistics. Note: Employment change measured from December to December, seasonally adjusted.

U.S. Private-Sector Employment Change Source: U.S. Bureau of Labor Statistics. * Based on first 8 months ( December 2013 – August 2014). Note: Employment change measured from December to December, seasonally adjusted.

Source: U.S. Bureau of Labor Statistics. Note: Employment change measured from December to December, seasonally adjusted. New Jersey Private-Sector Employment Change

Source: U.S. Bureau of Labor Statistics. (*) Estimate based on data through June New Jersey Private-Sector Employment Change

2013: Private-Sector Employment  2013: First 6 Months+31,400 jobs  2013: Last 6 Months -11,600 jobs  2013: Full Year +19,800 jobs

Source: U.S. Bureau of Labor Statistics. Note: Employment change measured from December to December, seasonally adjusted. New Jersey Private-Sector Employment Change

2013: Private-Sector Employment  2013: First 6 Months+31,400 jobs  2013: Last 6 Months -11,600 jobs  2013: Full Year +19,800 jobs

New Jersey Private Sector Employment Change Q – Q Source: New Jersey Department of Labor and Workforce Development.

New Jersey’s Economic Roller Coaster (Employment change for periods indicated) Source: New Jersey Department of Labor. Note: ( ) indicates employment loss.

Obsolete Industrial Plant

The Great 1980s Office Building Boom

Suburban Office Agglomeration

Information Technology Eras Pre- and Early-PC 1981IBM PC Introduced8088 microprocessor chip 1983IBM XT 1984IBM AT80286 microprocessor chip microprocessor chip Pentium80586 PC Intense – Fiber Optic 1995Window to the Internet Mobile Internet – Untethered 2007iPhone 2008Affordable Powerful Notebooks 2010iPad Widespread availability of 4G LTE

386 Microprocessor

Information Technology Eras Pre- and Early-PC 1981IBM PC Introduced8088 microprocessor chip 1983IBM XT 1984IBM AT80286 microprocessor chip microprocessor chip Pentium80586 PC Intense – Fiber Optic 1995Window to the Internet Mobile Internet – Untethered 2007iPhone 2008Affordable Powerful Notebooks 2010iPad Widespread availability of 4G LTE

Information Technology Eras Pre- and Early-PC 1981IBM PC Introduced8088 microprocessor chip 1983IBM XT 1984IBM AT80286 microprocessor chip microprocessor chip Pentium80586 PC Intense – Fiber Optic 1995Window to the Internet Mobile Internet – Untethered 2007iPhone 2008Affordable Powerful Notebooks 2010iPad Widespread availability of 4G LTE

Maturing Baby Boom – Redefining Maturity Echo-Boomers/Gen Y/Millennials – Redefining the Workforce/Workplace AT

The Postwar Baby Boom:

The Largest Generation in U.S. History

Tract-House Suburban New Jerseye Suburban N.J. Source: The New York Times

McMansion

Serious Serious Middle-Aging

BABY BOOM: REINVENTING MATURITYaby Boom Reinventing Maturity 2011: First Boomer turned 65 years of age 2014: All Boomers between 50 and 68 years of age 2015: Fully one-half of all Boomers will be in their 60s 2016: First Boomers will turn 70 years of age

We will not fade away quietly! Source: Christian Science Monitor

The The Eventual Slowdown Slowdown

Baby Boomer in Retirementn Retirement

Beach Boys: Little Deuce Coupe

The Invasion of the Stroller People

Echo Boom: oom:

Generation “Y” Today

The Digerati

Girl-Boy Brooklyn Hipsters

1970s George and Albany Streets

2000s: George and Albany

1970s: MP 54 Electric MU Cars Electric MU Cars

1970s: Interior Seating

No Cellphones or Tablets – Just Print

2000s: NJ Transit Bi-Level Cars

2000s: Interior Seating

Prototypical 1970s Subway Car

1970s Interior

New 2000s Subway Fleet

Interior

1970s:11970s Destination: Times Square Seedy Times Square

2000s Times Square

Merck Headquarters in Whitehouse Station: Stranded Asset in Whitehouse Station

BASF in BASF – Mount Olive – Stranded Asset 2ve Source: Bing Maps 2011.

Aetna Construction Completed 1983

Home of the Edward J. Bloustein School