Green Jobs Demonstrate The Perils Of Government-Directed Economic Growth

SourceForbes
SectorEconomy
CountryGulf

Part of President Biden's Build Back Better initiative promises to "create good-paying union jobs and train Americans for jobs of the future." The unspoken theory behind this initiative is that green jobs will offer a pay premium to workers compared to jobs in the fossil fuel industry. It also reflects the Administration's view that sustainable and robust economic growth is driven by the federal government. Both of these premises are ill-founded. Starting with the pay premium of green jobs, a study commissioned by North America's Building Trades Unions (NABTU) reports that tradespeople "consider projects in oil and natural gas to have better perceived wages, benefits, and opportunities than renewables projects.

They also report that the oil and natural gas industries offer projects with longer durations than those in renewables industries". Data from the Bureau of Labor Statistics (BLS) confirm their perspectives. Based on the Occupational Employment and Wage Statistics, the average annual wage for a solar photovoltaic installer is $46,...read more...