Reference no: EM132652950

Economic trends show us that a growing or thriving economy does not always translate to growth or thriving in wages and jobs. The "purchasing power" of wages in the U.S. (how much you can buy/own with the wages you bring home) has remained relatively flat for decades (Pew Research article at the link). Economic trends impact who can find work, what wages for that work will be, and how confident people may be that they will be able to keep the work they have.

One trend described in detail in the text is "deindustrialization" and the shift to a service-based economy. A more recent, long-term trend has been automation, where critical jobs once done by humans are being completed by robots. (For more, see these: the documentary short or this calculator that estimates the chances your job may be automated in the future.)

Now, the social crisis of the Covid-19 pandemic is causing massive, sudden changes to the economy, which will almost certainly have both immediate impacts and long-ranging ones. Many have lost their jobs; others are learning to work in entirely new ways (remotely from home, for instance). What will the long-term impacts be on our society?

Initial Post Instructions

Answer the following three questions:

Question (1) Explain how deindustrialization impacted the future of work, giving at least three concrete examples from the textbook. Be sure to consider the uneven impacts by describing differences across different populations, geographic regions, or job sectors.

Question (2) Choose a current trend in the economy that is impacting jobs (automation, the impacts of Covid-19, or some other documented trend). Explain what we know so far about this trend. Give at least three concrete, evidence-based** examples of impacts. Be sure to consider the uneven impacts of this current trend.

Question (3) Make your best, evidence-based predictions about the long-term impacts of this current trend (so, five or more years from now, what will have changed?) Will it create fundamental shifts across the economy, as deindustrialization did? Will it impact some but not all job sectors? some but not all populations of workers?