A recession might hit white-collar employees the toughest. Here is why

A recession could hit white-collar workers the hardest. Here's why


New York
CNN Business

White collar workers would be hit harder than blue collar workers if the United States enters a recession soon, according to one economist, who said businesses have undergone a dramatic restructuring after the pandemic.

“Covid shifted things around,” said William Lee, chief economist at the Milken Institute. The pandemic has accelerated automation, Lee said, and that’s pushing low-skilled white collar workers out of jobs.

“In this post-Covid environment, businesses are restructuring themselves. They’re changing the way they operate, they need to get more efficient. And what they’ve done is buy more software, deploy more technology, where they’re thinking ‘I need better-skilled people who work for me,’” Lee said.

The tech industry has seen a number of widely publicized layoffs in recent months as companies seek to rebalance their…