Some Jobs Lost During Recession Gone for Good
Friday, January 29th, 2010Author : Biz2Credit Advisor
The recession has reshaped the job market, and even in a recovery some of the 7.2 million unemployed workers in the U.S. will find their former jobs no longer exist, said the Wall Street Journal.
Many of the construction jobs created by the housing boom will probably not return, which spells trouble for men without a college education. More than 1.6 million construction jobs were lost in the past two years. And many high-paying jobs in the financial sector may not be coming back, said the Journal.
The recession also hastened the end of jobs that were already becoming obsolete thanks to advancing technology. The ranks of administrative and clerical workers fell by 10 percent in the past two years, and even as the economy recovers many of those tasks will become automated, said the Journal.
The permanent loss of these jobs will likely slow a recovery, as it will take time to create new types of jobs and retrain workers to do them, said the Journal.
This article was submitted by Katie Kapler, Director of Online Strategy for Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to katie.kapler@biz2credit.com
Tags: construction jobs, financial sector, housing boom, job market, recession
