Friday, September 17, 2010

Cuba's Big Lay Off

President Raul Castro has decided that Cuba's economy needs to be fundamentally restructured and, as a first step, 500,000 state workers are going to be laid-off by next spring. The government employs 90% of the country's more than 5 million workers and so Castro's stripping of what Cuba's official labor union described as "inflated payrolls" is sending shock waves through all of Cuban society.  Some Cubans, however, sees opportunity in the uncertainty - especially in the President's declaration that private enterprise must take up the slack and absorb the newly unemployed.  Older workers are just hoping they can be pensioned off.  For those who can't get a job in the private sector or retire comfortably, there is another recourse: leaving Cuba.
Here is where America will get another deluge of Cuban's trying to get out of Cuba and come to the US for work.  We are already full of immigrants and I don't know how our economy will hold up with the extra that we face from this.

No comments: