Yesterday, President Biden signed the Infrastructure Investment and Jobs Act (IIJA) to put over $1 trillion towards transportation, broadband, and utilities revamps. Although many are wondering how this will affect infrastructure in the coming years, others are curious about how many and what type of jobs will be created as a result.
On the topic of his new bill’s effect on employment, Biden referred to Wall Street projections which forecasted an additional two million jobs per year given that these packages see continuous investment. After further review, experts have found that the economy is likely to see around two million new jobs over the next 10 years, given that both the infrastructure and spending bills are passed. The Wall Street institution that Biden leaned on for these forecasts is called Moody’s Analytics.
What kind of jobs could result from Biden’s new package has been up for question since August of this year. With the massive construction and repair efforts required of the Infrastructure Investment and Jobs Act, workers in construction and manufacturing will be needed immediately to start the rebuilding process. Moody’s Analytics has forecasted that 650,000 jobs will open up as a result of President Biden’s signature, believing that these jobs could average around $70,000 per year, many of which will be in the manufacturing sector.
Some experts hold even more optimism for the future of the Infrastructure Investment and Jobs Act, estimating nearly one million job openings as a result of Biden’s new bill, with over 70% of them being available for non-college graduates.
Other experts are comparing New Deal spending levels to the current bill as a point of reference. If the second reconciliation budget goes into effect, nearly $500 billion will be dedicated to refreshed infrastructure over the next decade. This equates to $160 billion in government spending over the next five years. When combined with the Infrastructure Investment and Jobs Act, this level of infrastructure spending would surpass that of the New Deal.
All in all, the collective prediction is that Biden’s infrastructure bill will certainly open up the floodgates for construction and manufacturing positions. Moody’s has found that the over $1 trillion package can create hope for unemployed individuals – especially those without a college degree. For more information, browse these stories which speak more on the forecasted effects of President Biden’s recent infrastructure bill:
- Brookings charts out the potential spend of the IIJA and reconciliation budget alongside spending levels of the New Deal, which speaks to the size of these recent proposals.
- CNNPolitics remarks how it could take years before the IIJA makes a visible impact, although funds could start being released by the US Department of Transportation within the next six months to boost infrastructure projects.
- California will likely receive tens of billions of dollars to revitalize public transportation, infrastructure for water and energy, and wildlife prevention efforts.
Experienced Employment Law Attorney, Mediator, Arbitrator, Investigator, Legal and Media Commentator
Twice-named a U.S. News Best Lawyer in America for employment and labor law, Angela Reddock-Wright is an employment and labor law attorney, mediator, arbitrator, and certified workplace and Title IX investigator (AWI-CH) in Los Angeles, CA. Known as the “Workplace Guru,” Angela is an influencer and leading authority on employment, workplace/HR, Title IX, hazing, and bullying issues. Furthermore, she’s been named a “Top California Employment Lawyer” by the Daily Journal and one of Los Angeles’ “Most Influential Minority and Women Attorneys” by the Los Angeles Business Journal.
Angela is a regular legal and media commentator and analyst and has appeared on such media outlets as Good Morning America, Entertainment Tonight, Law and Crime with Brian Ross, Court TV, CNN, NewsNation, ABC News, CBS News, Fox 11 News, KTLA-5, the Black News Channel, Fox Soul – The Black Report, NPR, KPCC, Airtalk-89.3, KJLH Front Page with Dominique DiPrima, the New York Times, the Washington Post, the LA Times, Forbes.com, Yahoo! Entertainment, People Magazine, Essence Magazine, the Los Angeles Sentinel, LA Focus, Daily Journal, Our Weekly and the Wave Newspapers.
Angela is a member of the panel of distinguished mediators and arbitrators with Judicate West, a California dispute resolution company. She also owns her own dispute resolution law firm, the Reddock Law Group of Los Angeles, specializing in the mediation, arbitration, and investigation of employment discrimination, harassment, retaliation, and other workplace claims, along with Title IX, sexual harassment, assault, and misconduct conduct cases, along with hazing and bullying cases in K-12 schools, colleges and universities, fraternities and sororities; fire, police and other public safety agencies and departments; and other private and public sector workplaces.
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