Undertrained workers, not dislocated workers, are the real problem in the American economy. The vast majority of the workers affected by structural change in the American economy appear to make employment transitions fairly swiftly and smoothly, with no need for public intervention. Undertrained workers, mostly employed and scattered in all…

This paper summarizes a comparative study of the impact of market and technological changes on human resources in banks and insurance companies in five countries: France, Germany, Japan, Sweden, and the United States. The research was organized around case studies of changes in 12 firms--9 banks and 3 insurance carriers. The paper discusses the…