UMSL economist talks jobs, trade deals on KMOX
Even with more than two million jobs added to the U.S. economy in 2015, concern about unemployment and economic growth continues among the American public. That concern was evident during a discussion Aug. 2 with University of Missouri–St. Louis economist David Rose on KMOX (1120 AM).
On The Mark Reardon Show, Rose was asked about Amazon and internet shopping’s role in fewer storefronts and lost jobs.
“Of course brick and mortar will get hurt the most,” Rose said, “but there are always going to be some people that don’t want to shop online, just like there are some people that won’t ever get an iPhone.”
He went on to compare the situation to that of the real estate bubble in 2000.
“This will peter out and settle into a long-term equilibrium,” Rose said.
He also suggested that internet shopping isn’t the true issue.
“The bigger issue is: Are there enough kinds of jobs to employ the current people who can have those jobs skills?” Rose said. “The problem is people having the skills needed.
“In the 1950s and ’60s, a high school diploma was the standard measure of a person with decent competence. I don’t think that’s true anymore. We can’t make those assumptions anymore.”
Reardon also spoke with Rose about the popular discussion around international trade deals.
“The problem with anti-trade talk is that it interjects an incredible amount of uncertainty into the economy,” Rose said. “For those with millions of dollars in play, they become nervous when they don’t know if the rules of the games are going to change.”
The Mark Reardon Show airs weekdays on KMOX (1120 AM) from 2-6 p.m.
Short URL: https://blogs.umsl.edu/news/?p=63250