Much has been written about the two economies that have existed during the pandemic economy. You have the wealthy who have thrived thanks to remote work accessibility and Federal Reserve policies that have increased asset prices. Then you have the working class who have either seen their jobs disappear or significantly reduced. Many of think pieces have been devoted to this two economy world, but what if it is not entirely true.
Sarah Chaney Cambon over at The Wall Street Journal argues that we are actually witnessing a blue-collar boom, “Strength in housing and e-commerce during the pandemic has helped propel hiring in blue-collar occupations, which were hard hit by previous recessions”
– Good news for current and future employed workers, “Many economists and companies expect blue-collar jobs to continue growing, though at a slower pace, after the coronavirus is contained. They predict the key factors driving employer demand for blue-collar workers—a swift pickup in online orders and a buoyant housing market—will largely stay…”
– Economists also expect a lot of jobs we lost to come back, “Economists also expect service-industry jobs, such as retail and restaurants, to see particularly big gains as the pandemic fades, helping propel broader economic growth.”
– Even with a 6.3% unemployment rate, some companies are having trouble finding workers because, “Many blue-collar companies are struggling to find workers to keep up with demand. Millions of people aren’t seeking work, in some cases because of increased child-care responsibilities or fear of contracting the coronavirus.“