Three questions on retraining and the future of work with economist Jay Shambaugh.
What can individual workers do to better prepare themselves for the workplace of the future?
The silliest but probably most honest one is stay in school. I am a total believer that for the economy as a whole, education is not a sufficient way to solve wage-growth problems. But for an individual, it is. For an individual, the more education you have, the lower your unemployment rate and the higher the wages will be over your career. The other thing is to back politicians and policies that are supportive of what you think you need in your working life.
Who do you think has the responsibility to retrain workers, and who do you think is doing it effectively?