The biggest jobs report since World War II could hurt job creation
Posted On July 28, 2021
Hunter Water jobs, the nation’s largest freshwater water company, could see a drop in demand for workers as the economy recovers from the Great Recession, according to a report from The Bureau of Labor Statistics.
The unemployment rate for water workers could drop to 4.5 percent in 2021, from 6.5 in 2020, the BLS said Tuesday.
The unemployment rate is calculated by dividing the number of people who would be out of work if they were not out working on public projects.
The Bureau’s projections show the unemployment rate drops to 6.3 percent in 2022, down from 7.1 percent in 2020.
According to the report, water workers would be hurt the most by the Great Depression.
The industry employs around 8,500 workers and is the third largest in the country, behind the construction and agriculture industries.
“This will be a job killer,” said John P. Rinaldi, director of the Center for Watershed Policy and Economics at the University of Illinois at Urbana-Champaign.
Rinaldi cited a 2014 study by the University the U.S. Census Bureau said that nearly half of all workers were employed by the water industry in 2022.
The report also noted that while water companies were expected to employ nearly 9 million workers by 2021, the industry had been hit by job cuts in recent years.
In 2020, just 1.3 million water workers were expected in the industry, according the BJS.
“There are going to be people who are going out of the water, and that’s going to hurt the economy, and it’s going get a lot worse,” said Jason L. Smith, senior economist with the National Association of Manufacturers.
President Donald Trump has repeatedly pledged to revive the industry and the Bureau of Reclamation is currently conducting a water survey in order to determine the need for additional drilling.
There is still a long way to go before the water is safe to drink.
Read more from Business Insider: BLS: The Great Recession ended for water jobs in 2022Read moreAbout 100 million Americans lost their jobs in the Great Flood of 2016-2017.