Rather than simply prioritizing short-term economic stability for companies, Congress must make investments in the people who are hurting the most. Those investments should be in the sort of education and training that can build resilience in the face of continued economic turmoil. Getting America not just back to work, but into the jobs of the future, will require change on both the supply and demand sides of the labor market.
But public investments can't focus on training alone: Displaced workers, disproportionately low income and people of color who lack access to the social capital so many of us take for granted in our job search, will need coaching and career support. That support will allow them to successfully navigate the torrent of marketing materials and commercials from a maze of thousands of sometimes unscrupulous trade schools.
Hiring for potential as much as pedigree holds potential to create a more inclusive future. It will also remediate the widening wage and economic inequality that emerged in the wake of the Great Recession. Of the 7.1 million net jobs lost during the economic downturn that followed the financial crisis in 2007, nearly all were occupied by workers holding less than a bachelor's degree. But only 3.
Addressing the second wave of the unemployment crisis will also require unprecedented collaboration among employers standing on opposite sides of the growing labor market riptide. Because while many segments of our economy are imploding right now, others are growing. Employers on both sides of the hiring spectrum must be engaged in a process that links laid-off workers with opportunities or one that sets a clear standard for how to attain them.
2021 will likely be the worst year in American history -- much like 1929 or 1930. We haven't yet felt the ripple effect of foolishly shutting down the economy. If Democrats win, they will be in a poor position to repair the nation.
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