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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

Robert Shapiro
Brookings Institution, 2018
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Editorial Rating

7

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  • Eye Opening
  • Hot Topic

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.

Take-Aways

  • From 2008 to 2013, college graduates snagged all the 4.3 million US net job gains made in the period, while those with less education suffered 4.7 million in job losses.
  • In the economic expansion that followed, college graduates’ labor-force share jumped from 36.5% to nearly 40%.
  • The 60% of the American labor force without university diplomas is likely to continue to feel the pressure, because college graduates are taking jobs that once went to those without degrees.

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.

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