Tuesday, January 5, 2010

Post-Recession Jobs

In this segment on WYPR, I discuss the outlook for various types of jobs in the post-recession.  There are two ways to think about this issue.  We know that jobs derive from the structure of the productive capacity in an economy.  Therefore, 'What jobs are going to be in demand?' is a function of forecasted sectoral growth. For example, if by 2020 30% of U.S. GDP will be driven by demand for services and products in the healthcare and lifesciences sectors, job growth can be anticipated in those industries.  Statistics from the Federal and the State of Maryland governments seem to suggest this. 

Another way to think about this question is at the individual level, 'What jobs can I prepare for in the post-recession?' This is more difficult since it asks about the flexibility, training, education, experience, and tolerance for ambiguity of the individual.  The general rule is that one should get as the maximum amount of training and education to remain flexible. As it was impossible to predict the Internet revolution or the Green (as in agriculture) revolution, it is difficult to predict the next 'big thing'. Some jobs probably haven't been invented.

We know this.  We cannot assume job security from our employers.  The only security is that which we create by focusing on the value add we bring to an employment situation.  As workers, we are no longer selling time and effort (labor); we are selling productivity.

1 comment:

  1. Why should agriculture, a private sector, be included in the scheme? This will only end up subsidizing rich upper caste landlords who fleece landless labor.Executive Employers Review