Professor finds "green" jobs sustainable even in pandemic
Associate Professor Fadhel Kaboub co-authored an article about the viability and stability of so-called “green” jobs, even during a significant economic downturn such a the US is experiencing during the pandemic.
The article notes, in part:
The monthly Green Jobs Report shows that “greener” enterprises align with more resilient jobs, higher pay for workers, fewer job losses, and the potential for better overall company and investor portfolio performance.
The COVID-19 pandemic destroyed more than 22 million jobs in the United States during March, April and May of 2020. The subsequent recovery has been relatively modest, leaving plenty of uncertainty about the future of the US economy.
Half a year into the pandemic, the results are very clear:
“Greener” jobs pay higher wages than extractive jobs.
The US lost extractive jobs at a higher rate than greener jobs during the COVID-19 downturn.
Even in the hardest-hit “high-contact” industries, greener jobs were less likely to be lost.
To calculate the monthly results, the Green Jobs Report incorporates HIP Investor’s life-cycle approach rating the products and services, operations and management practices of publicly listed companies. These ESG ratings by HIP Investor are applied to the industries in the Current Employment Statistics (CES) data published by the US Bureau of Labor Statistics (BLS) each month.