Monthly blog by senior staff on public policy + updates.
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Workers cast adrift by technology. Last week we learned that the economy added 236,000 jobs in February. Better than a sharp stick in the eye, to be sure. But it still isn’t enough. Average job growth over the past six months has been about 190,000. At this rate, it will take the economy 5 years to absorb the increase in the ranks of the unemployed since 2007, plus new workers entering the labor force. And don’t forget the 8 million working part time who would prefer full time employment, 3.6 million more than in 2007.
How do we square persistently tepid job growth with the other big economic news of the week, that the Dow Jones Industrial Average hit new highs? Why can corporate profits be strong while employment growth remains weak? This brief essay will address only one of the many reasons: This recovery has simply left many workers behind. Read more »