Between the economic downturn in late 2007 and our current 10% unemployment rate, some jobs are gone forever, going the way of typewriter repairmen and streetcar operators.
Some jobs are becoming more automated (secretaries, mailroom clerks, directory publishers, photofinishing, etc.), while careers related to the housing and credit markets may have been “permanently erased” by the bust.
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Harvard University economist Lawrence Katz tells the WSJ that “the tremendous amount of economic activity associated with housing, I can’t see that coming back. That was a very unhealthy part of the economy.”