It’s understandable that with very public announcements of job losses – albeit many of them several years into the future – people become worried about jobs. They ask: where will future jobs come from? There are two things to say. One is they will come from areas we don’t see yet.
In the middle of 1991, at the low point of the last serious recession, people were very pessimistic about future employment prospects. The rate of unemployment was in double digits. 1  Parkinson M (2014), “Fiscal Sustainability & Living Standards – The Decade Ahead”, Speech at The Sydney Institute, Sydney, 2 April http://www.treasury.gov.au/PublicationsAndMedia/Speeches/2014/Fiscal _sustainability.