Highly stylized output of models that assume supply-constraints on growth are the norm, and which are presented as effects on “growth” and “jobs” with no further context are notably unuseful, and often actively misleading in today’s policy debates.
If high unemployment is one of the obstacles to more equitable growth, then the question is: how do we achieve full employment? There are four main ways. Each route faces substantial political opposition, both because of powerful interests that would be hurt by paying higher wages and because of popular prejudices that are persistently promoted in the media.
One day, sometime around the middle of this century, during the lifetime of people now alive, the population of the planet will be smaller than it was the day before. Global population growth is slowing, will level off, and one remarkable day, decline.