Economic Change is Slower and More Complex Than We Think

Economic change is happening more slowly than many believe, with lower rates of growth and decline compared to past decades.

The nature of economic change often doesn't match common narratives - older workers tend to remain in declining sectors while younger workers avoid entering them.

Research on 19th century teamsters shows a similar pattern of younger workers avoiding declining professions while older workers remain.

Manufacturing employment has actually risen for UK workers in their 60s despite overall declines, as younger workers opt for other sectors.

We need to update how we think about economic change - it brings challenges but is happening more slowly than believed and affects age groups differently.