Similar trends will come to many more sectors, revolutionizing labor markets. This has long been the case in computer programming, where it is standard practice to hire talent from India. The key development will be this: To the extent that the work can be done online, companies can hire the best workers from around the world. Microsoft, for example, has announced that work from a distance will continue indefinitely.Įmployers are only beginning to adjust to these new circumstances, however, so the full consequences of the teleshock are not yet clear. In any case, a fair amount of “work from a distance” is likely to persist, most of all in the technology industry, where the fundamental products are digital. As it turns out, many prefer this new arrangement. The teleshock, or the rise in telecommuting, received a major impetus from the pandemic, when so many Americans were forced to work from home. jobs - but there is a new and possibly larger shock on the horizon. manufacturing, and China has already displaced many U.S. Most of the shock is now over - Chinese imports are competitive with much of the output of U.S. The “China shock” was one of the most significant economic events of the last two decades in America.

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