Summary of The new economics of jobs is bad news for working-class Americans – and maybe for Trump

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The new economics of jobs is bad news for working-class Americans – and maybe for Trump summary
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Recommendation

President Donald Trump takes credit for US economic growth and soaring employment numbers. But according to this sobering report by economist Robert Shapiro, many of Trump’s core supporters among working-class Americans are still missing the party. People with college degrees continue to grab a disproportionate share of jobs, while those with less education still struggle. While always politically neutral, getAbstract recommends this eye-opening article to anyone with an interest in how political perception and economic reality often don’t jibe.

About the Author

Robert Shapiro is chairman of the advisory firm Sonecon and a senior policy fellow at Georgetown University’s McDonough School of Business.

 

Summary

The period from January 2008 to January 2013 included the financial crisis, the Great Recession and a restrained recovery. Many people lost their jobs. And according to the US Bureau of Labor Statistics, a clear picture of the winners and losers had emerged by the end of that period. Individuals with at least a bachelor’s degree – a group representing one-third of the labor force over the five-year span – snagged all of the 4.3 million net job gains made at that time, while those with less education suffered 4.7 million in job losses.

Those ...


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