David Smith: Long Term, Higher Wage Jobs Will Draw Californian's Back Into Job Market
Pepperdine Graziadio Business School Economist David Smith, PhD, weighed in on an Los Angeles Times story about the economy and the job market. After four consecutive months in which each added more than 100,000 jobs, June’s gain was 73,500, state officials reported Friday. By comparison, California typically added between 15,000 and 25,000 jobs each month before the onset of the pandemic in spring 2020. Economists, including David Smith expect hiring to continue to ramp up, especially in a few months, when schools reopen after the summer break and parents may reconsider joining the workforce. “The allure of a long-term job at a high wage will draw even the most reluctant back into the job market,” Smith said.
The full article is available at the Los Angeles Times.