Prof. Isberg: Job Losses? Gains? It's Just the Way the Economy Works These Days
January 10, 2019
Contact: Office of Government and Public Affairs
Writing in The Baltimore Sun, Steve Isberg, associate professor in the University of Baltimore's Merrick School of Business, says that the recent ups and downs in the nation's economy—big job losses one day, and new hiring the next—are a reflection of the real economy. There, automation and productivity are driving everything, and workers are struggling to understand what is happening.
"Apple has announced plans to hire another 20,000, and GM is laying off over 14,000. Whether things are going well for you depends on what you do and where you do it," Prof. Isberg writes. "Are you a tech worker in California? You're making six figures and living in an upscale home. Are you an auto worker in Ohio? You're worried about having a job next month."
Isberg says the world's modern financial structure—a complicated system of trade, manufacturing, labor, and productivity—encourages economic uncertainty for a large majority of employees.
"Look for this trend to continue across manufacturing," he says. "If you work for a living, it's time to retool your skills, or you won't be working for a living."
Read the op-ed in The Baltimore Sun.