Business and Economic Research Ltd chief economist Dr
Ganesh Nana speaks to secondary school pupils about their
role in fixing New Zealand's economy, during a Future of
Work seminar, at Otago Boys' High School, Dunedin,
yesterday. Photo by Ellie Constantine.
Forget becoming a checkout operator or fast-food worker
if you want to fix the economy - go for the high-paying jobs
instead, Berl (Business and Economic Research Ltd) chief
economist Dr Ganesh Nana advised Dunedin secondary pupils
yesterday.
He and Dunedin City Council economic development unit manager
Peter Harris gave a realistic talk on the economy to about
300 pupils as part of the Otago Careers Festival.
Dr Nana started by painting a grim picture of a "scary new
world" full of challenges for the pupils.
As the United States and United Kingdom still struggle to
"get off their knees" after the global economic crisis, China
and India "are the drivers of the global economy now, for at
least the next 20 years", he said.
In New Zealand, the gap between what the nation is earning
and what it is spending continues to grow and in a
post-recession world rich countries were no longer willing to
lend money as easily.
"I apologise to you, but that's the mess we've given you," Dr
Nana said to the teenagers.
Add to that food prices which have increased 36% in the past
three months, cereal prices which have blown out 62% in the
same period, the price of fuel and the 104,000 New Zealanders
who are unemployed, and he advised against jumping straight
into the job market.
"We have spent the past 50 years spending more than we earn.
The challenge is not to rebalance the spending versus income,
the challenge is to earn enough.
"I think we've got to get out of this idea . . . that all you
need to do is leave school and get a good job. We need skills
that will enable New Zealand to make an income."
However, he did offer a solution -
rather than spend less and save more, the country simply
needed to earn and export more, Dr Nana said.
"Don't settle for the checkout operator at Countdown or the
service worker at McDonald's.
"Go for those high-paying jobs. Don't settle for the low ones
because New Zealand is well placed . . . you guys have got it
made because the things New Zealand is best at doing is what
the new world wants - food."
Mr Harris offered his top job list - IT, construction (with
18,000 people predicted to be needed to rebuild Christchurch)
and health science, as well as becoming a boss.
"[Also] think about [studying] Mandarin. If I was 17 again I
would definitely be doing that."
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