Economists predict a split job market, once employers start hiring again, AP reports. There will be well-paid jobs for well-educated lawyers, scientists and software engineers. There will be low-paying jobs for low-skilled store clerks and home health aides.
And those in between? Their outlook is bleaker. Economists foresee fewer moderately paid factory supervisors, postal workers, and office administrators.
It will take till 2014 or later to regain the 8.4 million jobs lost to the recession, according to projections.
“There will be jobs,” says Lawrence Katz, a Harvard economist. “The big question is what they are going to pay, and what kind of lives they will allow people to lead? This will be a big issue for how broad a middle class we are going to have.”
In some fields, such as manufacturing, real estate, and financial services, employment isn’t expected to rebound. Any occupation that can be automated or outsourced is at risk.
Many community college students hope to qualify for health careers that can’t be outsourced. But there’s going to be a lot of competition for those jobs, which could drive wages lower. A few years ago, demand for nurses was high. Now, colleges could be training too many nurses, warns Minnesota Public Radio.