Is Biden Up to the Good Jobs Challenge?
The pre-pandemic US economy may have had a record-low official unemployment rate and sky-high stock-market valuations, but it was hardly serving the majority of Americans. Good jobs for those without a college degree have been disappearing, and this ominous trend will not reverse itself without an overhaul of economic policy.
BOSTON – With US President-elect Joe Biden’s imminent inauguration and the rollout of COVID-19 vaccinations, there is growing optimism for an economic rebound in 2021. But such hopes are misplaced, and not only because the virus is likely to remain a problem for longer than people think. The real problem is that the pre-pandemic US economy is unworthy of being emulated.