What Is Happening to America's Less-Skilled Workers? The Importance of Education and Training in Today's Economy

Michael Greenstone, Adam Looney:

The labor market continued to expand at a modest pace last month, according to today's employment report. Payroll employment increased by 120,000 jobs in November, and the fraction of Americans with a job ticked up. Including revisions to previous months, total employment was 192,000 higher in November. Private employment increased by 140,000 jobs last month while governments continued to shed jobs. While the unemployment rate jumped down to 8.6 percent, some of the reduction reflected lower labor force participation rather than increases in employment.

While overall job creation has improved slightly, many American workers continue to face serious difficulties in the labor market. These workers tend to have less formal education and/or fewer job-relevant skills. For less-educated workers, the Great Recession has only exacerbated a longer-term trend of diminished earnings and job opportunities.

Posted by Jim Zellmer at December 5, 2011 1:45 AM
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