Larry Summers praises Ford CEO Jim Farley's concept of the essential economy because it doesn't 'fetishize manufacturing'

As Ford CEO Jim Farley Talks About Shortage Of Mechanics, This TikTok User Says There's A Debt Problem: 'They Just Financially Can't' - Ford Motor (NYSE:F)

Jim Farley says there's a shortage of mechanics and repair technicians in the U.S., with 400,000 shortages and a 2-week average repair time.

Larry Summers praises Ford CEO Jim Farley's concept of the essential economy because it doesn't 'fetishize manufacturing'

Former Treasury Secretary Larry Summers said Ford CEO Jim Farley’s idea of the “essential economy” is a good concept as it doesn’t focus narrowly on just factory work. Amid fears that AI will wipe out large swaths of white-collar work, Farley has highlighted shortages in blue-collar professions, putting the unmet need at about 1 million jobs, as many American schools, families and policymakers have neglected the essential economy. He even reveal…