CAROL’S SUMMARY:
According to the Wall Street Journal article below, the evolving times and dour economy have left permanent scars on the job market. Even when the economy picks back up, certain positions such as those in the housing and finance sectors are not expected to return to their pre-economic crisis status. Also, the recession has accelerated unemployment in careers already on the path to extinction due to advances in information technology. These jobs include record shop workers, photofinishing establishments, and secretaries and mailroom clerks. Therefore, unlike recessions of the past, recovery will take longer because new jobs will need to be created. Workers will need to acquire a whole new set of skills necessary for surviving in the ever-changing job market.
While we cannot accurately foretell what jobs will flourish in the future, we can prepare today’s students for tomorrow’s careers by instilling emotional intelligence and critical and creative thinking skills in order for them to possess interpersonal skills and achieve problem-solving success. With an evolving employment landscape, it is critical for students to be sharp and adaptive. At LifeBound, our programs for grades 5-12 aim to develop academic, emotional and social skills to help students learn and succeed in the global marketplace. For more information on LifeBound programs visit www.lifebound.com or email contact@lifebound.com.
ARTICLE:
The Wall Street Journal
JANUARY 12, 2010
Even in a Recovery, Some Jobs Won’t Return
By JUSTIN LAHART
Even when the U.S. labor market finally starts adding more workers than it loses, many of the unemployed will find that the types of jobs they once had simply don’t exist anymore.
The downturn that started in December 2007 delivered a body blow to U.S. workers. In two years, the economy shed 7.2 million jobs, pushing the jobless rate from 5% to 10%, according to the Labor Department. The severity of the recession is reshaping the labor market. Some lost jobs will come back. But some are gone forever, going the way of typewriter repairmen and streetcar operators.
Many of the jobs created by the booms in the housing and credit markets, for example, have likely been permanently erased by the subsequent bust.
“The tremendous amount of economic activity associated with housing, I can’t see that coming back,” says Harvard University economist Lawrence Katz. “That was a very unhealthy part of the economy.”
To view this entire article visit www.wsj.com
