While manufacturing employment fell by 35% between 1979 and 2019, the industry still accounted for almost 13 million jobs coming into this year. And having absorbed decades of outsourcing and productivity improvements already, employment in the industry may be more stable in the future.
And as the market share of e-commerce grows, particularly with so many Americans sheltering-in-place and shopping online rather than in stores, there will be jobs for millions of people working in warehouses, fulfillment centers and package delivery. Men make up 52% of retail workers compared with 76% in transportation and warehousing, perhaps signaling improving employment prospect for males even if total employment doesn't change much.
Looking forward, evolving political views and potential policy agendas appear to be more supportive for male workers than they've been in some time. Both President Donald Trump and presumptive Democratic presidential nominee Joe Biden have emphasized the importance of buying American products, domestic manufacturing and investing in infrastructure. Biden's proposed $2 trillion clean energy investment plan would likely have a disproportionate benefit for male workers. Policies that support industries such as manufacturing and construction in order to curry favor with voters in election battleground states like Michigan and Wisconsin could be the new political norm in national politics, in much the same way farm support has been in the past.
We don't yet know how long this public-health crisis will last, nor how long it will take for the economy and labor market to recover. But if there's one aspect of this recession that’s different from those in the past, it's that for once this downturn is not uniquely painful for men.
This article was provided by Bloomberg.