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Unexpected Political Dynamics - 9/14/16

Despite the completion of seven years of economic recovery, many Americans remain unnerved by the nation’s economic prospects.  In many instances, this had produced some unexpected political dynamics. 

As reported by the Wall Street Journal, economist Jed Kolko analyzed Labor Department projections and Census Bureau demographic data and found that white males, older adults, and the less educated are each more likely to be employed in a segment that’s anticipated to decline over the next decade. 

For the economy as a whole, only about eleven percent of Americans works in an occupation that is expected to decline.  However, more than fifteen percent of white men who are fifty-five years or older and who have a high school diploma or didn’t finish high school are in segments expected to decline. 

Older Americans in general are more likely to be in occupational segments poised to decline in terms of employment opportunity.  When one excludes farming, fishing and forestry work, the share of white men in shrinking occupations is highest by a statistically significant margin.   

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.