Repairing the employment damage done by the pandemic will require a fiscal stimulus package from the federal government. The money will be needed to restart the consumer spending engine, which in turn will revive demand for workers. But it won’t be enough to simply boost federal spending and hope that job growth lifts everyone. We also have to make sure that we are creating new jobs with a future—jobs that are lifted by the winds of technological change rather than dashed by them. Many Americans felt dissatisfied with their job prospects, even during the low unemployment rates of the pre-pandemic days. Real wages were hardly rising, and the old career ladders of the past seemed to have disappeared for many types of jobs. Read Full Article »
Harnessing Tech to Create Good Jobs
The
Covid Recession has accentuated labor market inequality, with some professions and occupations doing as well or better than before the pandemic hit. Employment in business and financial jobs, for example, is up 7 percent in the third quarter of 2020 compared to a year ago. Transportation and material moving jobs are up as well, aided by gains in ecommerce. Meanwhile personal care and service jobs are down 42 percent, and food preparation and service jobs are down 25 percent.
Repairing the employment damage done by the pandemic will require a fiscal stimulus package from the federal government. The money will be needed to restart the consumer spending engine, which in turn will revive demand for workers. But it won’t be enough to simply boost federal spending and hope that job growth lifts everyone. We also have to make sure that we are creating new jobs with a future—jobs that are lifted by the winds of technological change rather than dashed by them. Many Americans felt dissatisfied with their job prospects, even during the low unemployment rates of the pre-pandemic days. Real wages were hardly rising, and the old career ladders of the past seemed to have disappeared for many types of jobs. Read Full Article »
Repairing the employment damage done by the pandemic will require a fiscal stimulus package from the federal government. The money will be needed to restart the consumer spending engine, which in turn will revive demand for workers. But it won’t be enough to simply boost federal spending and hope that job growth lifts everyone. We also have to make sure that we are creating new jobs with a future—jobs that are lifted by the winds of technological change rather than dashed by them. Many Americans felt dissatisfied with their job prospects, even during the low unemployment rates of the pre-pandemic days. Real wages were hardly rising, and the old career ladders of the past seemed to have disappeared for many types of jobs. Read Full Article »
Comment
Show comments
Hide Comments
