HBS Managing the Future of Work

David Deming on workforce shifts and the future of college

6 snips
Feb 26, 2025
David Deming, a Harvard professor focused on the intersection of labor markets and education, dives deep into AI's early impact on the workforce. He questions if the claims of revolutionary change are overstated while offering insights on technological disruption. The discussion covers the decline in community college enrollment linked to economic shifts, the impact of colleges on social mobility, and the importance of adapting education for an AI-driven economy. Deming also addresses public policy challenges in navigating these rapid labor market changes.
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INSIGHT

Measuring Labor Market Change

  • David Deming and Larry Summers developed a metric called "occupational churn" to measure labor market change.
  • It quantifies shifts in occupational shares over decades, allowing comparisons across time.
INSIGHT

Recent Labor Market Churn

  • Initially, the 2010s appeared as the most stable period in US labor market history.
  • However, updated data reveals that churn from 2010-2024 is the fastest since the 1970s.
INSIGHT

General Purpose Technologies and Farming

  • General purpose technologies like electricity have broad impacts, enabling further innovation.
  • The shift from subsistence farming was particularly disruptive due to its scale and societal impact.
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