An economy that works: job creation in the USA

Those interested in how the UK will fare in the next 10-20 years, should consider “An Economy that Works; Job Creation and America’s Future”, a McKinsey Report.

The numbers are of course American, but the lessons are applicable here. Two interesting findings from many.

Figure A6 (page 66) distinguishes employment on a 5 x 3 matrix: 5 levels of education and 3 job categories. This shows that 24% of employment is found in high education / high ‘interaction’ jobs (lawyers, teachers). But the next largest group (14%) captures people educated to a low level and engaged in ‘transaction’ jobs such as cashiers and porters. Hope for those not at the leading edge of the ‘knowledge economy’?

The second interesting exhibit is number 31 (page 59). This shows the US relative global position and trend on a range of features. We should consider the UK’s position on these variables and equally consider them Regionally and locally. (A task for LEPs?)