>How are the American middle class and working class prospering, if the good manufacturing jobs of yesteryear are all gone? Talmon Joseph Smith scoffs at “service economy jobs”, and Autor et al. find that manufacturing workers displaced by Chinese imports often took crappier, lower-paid jobs in the service sector.
>But that describes the 2000s. The 2010s and 2020s have been very different. Deming et al. (2024) show that over the last 15 years, the boom in low-skilled service-sector jobs has gone into reverse, and Americans are instead flooding into higher-skilled professional service jobs:
>“Go to college” turns out to have been good advice. The boom jobs of the new era are in things like management, STEM, education, and health care:
StPatsLCA on
It’s housing and Americans absolutely hating change.
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>How are the American middle class and working class prospering, if the good manufacturing jobs of yesteryear are all gone? Talmon Joseph Smith scoffs at “service economy jobs”, and Autor et al. find that manufacturing workers displaced by Chinese imports often took crappier, lower-paid jobs in the service sector.
>But that describes the 2000s. The 2010s and 2020s have been very different. Deming et al. (2024) show that over the last 15 years, the boom in low-skilled service-sector jobs has gone into reverse, and Americans are instead flooding into higher-skilled professional service jobs:
>“Go to college” turns out to have been good advice. The boom jobs of the new era are in things like management, STEM, education, and health care:
It’s housing and Americans absolutely hating change.