“The Future of Jobs: New Ones Arise, Wage Gap Widens” Will there be good jobs left for next generation? The good news: U.S. almost certainly isn’t going.

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“The Future of Jobs: New Ones Arise, Wage Gap Widens” Will there be good jobs left for next generation? The good news: U.S. almost certainly isn’t going to run out of jobs, even though history shows it’s impossible to predict what new jobs will replace those that are destroyed For example, in 1988 travel agents projected to be among fastest-growing occupations, but instead number fell due to online booking In 1988 electronics assemblers projected to decrease, but grew as outsourcing and robotics had less effect than expected

“The Future of Jobs: New Ones Arise, Wage Gap Widens” The bad news: Outsourcing overseas and technology could widen gap between wages of well-paying knowledge work and poorly paid manual work Jobs that can be reduced to series of rules likely to go – either to computers or workers offshore Jobs that stay or are newly created likely to demand the more complex skill of recognizing patterns or will involve human contact Tax preparation example – distinction between routine and complex returns USI 2003 grads w/ A.S. in Nursing, mean salary of $31,800; Radiologic Technology, $38,600; Dental Hygiene, $46,600 Community colleges excel at responding to shifting vocational demands in labor market

“The Future of Jobs: New Ones Arise, Wage Gap Widens” Forces of economic change favor workers w/ education and skills Unemployment among college grads 3%, high school grads 5.5%, high school dropouts 8.5% In 1980s and 90s, demand for educated workers grew more quickly than supply, leading to increased pay Wages of men over age 25 w/ four-year degree now 41% higher than similar men w/ HS degree, compared to 21% higher 25 years ago For women, 46% today compared to 25% Notion of career ladder becoming “rock climbing”

“The Future of Jobs: New Ones Arise, Wage Gap Widens” MIT economist refers to two kinds of lies politicians tell about outsourcing First, we can turn it all back No, because even if trade cut off, technology can do same thing to workers Second, education is all that matters May be true, but only in long run Wo/ better elementary and high schools, wider access to college and more training of mature workers, wage gap is certain to grow

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