Michael Burry said on Tuesday that the U.S. labor market is about to be sliced in half, with blue-collar workers remaining a sought-after commodity, while white-collar workers see job losses and falling wages. In other words, the good times are ending for office workers.
“I see a bifurcated labor market developing as unskilled and semiskilled remain in short supply, but white-collar workers, having proven their redundancy during COVID, will find gross excess in the labor market, pressuring wages at the end,” he wrote in a Tuesday tweet.
Since the remote-work era began over two years ago, business leaders and economists have suggested that it may backfire by creating a more difficult environment for white-collar workers as companies begin to consider offshoring jobs to reduce costs. If more jobs can truly be done anywhere, there's no need for them to be expensive American white-collar workers.