The Economic Perspective: “New Kinds of Jobs”

This is Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at new kinds of jobs.  Mike, although the total number of jobs in the economy has been expanding, there is a tremendous amount of turnover in the composition of those jobs.   Some experts say we haven’t had this much churning of jobs in decades.  What kinds of challenges and opportunities are faced by both workers and companies in this kind of work environment?

Mike:  Summary Answer

  1. Two good examples of what’s happening
  2. GM recently laid off 8000 engineers and designers in product development while increasing hiring in their electric and autonomous vehicle divisions
  3. Verizon gave buyouts to 10,000 workers at the same time they were adding data experts and marketers for their new 5G service
  4. Many experts say these examples are a sign of the times with rapid changes in technology
  5. For a worker, means there are opportunities, but will need retraining
  6. And – thankfully – many companies are finding it difficult to fill vacancies in the new jobs
  7. So companies may be willing to offer re-training to existing workers
  8. “change” is the name of the new job market
  9. I’m MW

Mary: And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics