FinTech Silicon Valley Jobs

Biden inherits a battered economy with 10 million still unemployed

“The labor market won’t be recovered for years. We still have a significant hole to dig ourselves out of,” one analyst said

One of the top priorities for President-elect Joe Biden will be to rebuild America’s battered workforce and kick-start business growth.

The labor market still faces a deficit of more than 10 million jobs, with more disappearing permanently. The number of unemployed Americans who have been jobless for more than 26 weeks jumped to 3.6 million in October from 2.4 million the month before, or one-third of all unemployed workers.

“The longer you’re unemployed, the less likely you’re going to find a job — and the longer you’re unemployed, you might just drop out of the job market altogether,” said Liz Ann Sonders, senior vice president and chief investment strategist at Charles Schwab.

The median duration of unemployment has climbed to 19.3 weeks, more than double what it was a year ago.

Yet the U.S. does not have the tools to realign workers and their skill sets to the new realities of the labor market.

“The labor market won’t be recovered for years,” said Ryan Sweet, senior director of economic research at Moody’s. “We still have a significant hole to dig ourselves out of.”

Reorienting the skill sets of potentially thousands of workers will be a tremendous undertaking. The Biden campaign has proposed providing two years of community college or equivalent training to all Americans, along with a $50 billion investment in workforce training through community college partnerships and free four-year tuition for students with family incomes below $125,000. Read more via CNBC

Pemo Theodore

Pemo Theodore is a Media Publisher & Event Producer and a great people connector.. She is Founder/CEO Silicon Valley TV which has served the San Francisco Bay Area for 11 years! She has produced Silicon Valley Events for Investors & Startups for 9 years. Pemo loves to video interview venture capitalists & founders to engage the human behind the success stories.. She has been Executive Producer of FinTech Silicon Valley for 5 years, organizing twice monthly FinTech talks & panels in San Francisco & Palo Alto. She believes in learning through a great discussion with experts in the domains. Pemo has a talent to bring the right people together and is an incredible networker. Pemo's events have been seen as supporting Venture Capitalists & Angels in sourcing great deal flow from startups who attend her events. Many founders have received funding through meeting investors at her events. Her favored medium is visual media and she has built up a great body of work of videos of panels & interviews in Silicon Valley.startup ecosystem.

SUBSCRIBE FinTech Silicon Valley Jobs youtube

Stay Updated FinTech Silicon Valley Jobs

Follow us on Twitter