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This article reads like it was written in 1990. Two points: 1) their own graph shows manufacturing employment started going back up in about 2011, and has cont
by rossdavidh 8y ago
This article reads like it was written in 1990. Two points:
1) their own graph shows manufacturing employment started going back up in about 2011, and has continued to do so, which seems like an odd thing not to comment about given that it is counter to the entire thesis of their article
2) it has been pretty well demonstrated in the last couple years that college degrees became required for a job in recent years because employers had the option of requiring it, not because it was actually necessary, and as the labor market has tightened the requirements have been relaxed. The supposed "skills gap" was at least partly (perhaps largely) about HR departments using college degree as a proxy for class, and also just a way to cut down the huge stack of resumes to a manageable number.
I think Blooomberg's audience is nervous that the recent resurgence in manufacturing, and the recent increase in the percentage of the population working, are undercutting their narrative of "it's automation, there's nothing we can do".