Federal policy must prioritize auto workers' job quality and fair compensation for a successful transition to electrification, panelists said at the Federal Reserve Bank of Chicago's 29th Annual Automotive Insights Symposium Thursday.
"The green transition will not be possible… without strong and sustained political support," said Adam Hersh, senior economist at the Economic Policy Institute, at the event in Detroit. "That's why it's so important that we're focusing on the quality and the quantity of the jobs that can be created."
Employers know the cost of raising wages, but they don't often measure the benefits of raising wages, said Susan Helper, senior adviser for industrial strategy in the White House office of management and budget.