The New York Times takes a wide-ranging look at how big federal spending programs — including the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act’s $370 billion in incentives and grants for the economy’s conversion to cleaner energy sources — will affect near-term job creation and the US labor market. Experts disagree about the number of new jobs coming and the impact of a potential 2023 recession on hiring, However, The Times concludes that “the industry-level impact will be significant. The nation will need more people working in construction and manufacturing in the next few years — even if they come from other professions or, ideally, the ranks of people who aren’t working.” The article also addresses current labor market conditions giving rise to union and agency workforce development initiatives supported by Washington, as well as concerns over the effect higher wages will have on the cost of infrastructure projects.
