Emerging from all the overall survey results was also a picture of the new American dream. While more than two-thirds of us feel we are better off than our parents were at the same stage of life, nearly half the respondents indicated that, if they had it to do over again, they would choose a different line of work. The most commonly expressed dream was that of starting a business of their own. The optimism the current economy fosters is also reflected in the perpetual American dream. It is not just in the high tech sector.
Cheap labor is nearly impossible to find in any segment of the labor market today.
Real wages stagnated. But today, due to labor shortages, rising benefits costs, and escalting wage demands, profits are beginning to suffer, creating more headaches for business managers while worker satisfaction levels are high. Inflation has been held in abeyance by productivity gains, consumer spending and low interest rates. In an effort to cope with rising costs, some companies are trying a variety of techniques to reign in inflation. Some are trying one-time bonuses, stock options, increased vacation, or flexible work hours to avoid irreversible salary growth.