Sarah Laskow reports on new findings that show California’s green economy fared much better in the economic downturn than the economy as a whole, demonstrating the overall staying power of green jobs.
The new study, published by Next 10, a non-profit focused on California's future, compared growth in 15 industries in what they deem the "core green economy" with growth in the overall economy over the short and long terms, with compelling results.
Althought the Green Economy did struggle during the recession, it was impacted far less than the overall economy. In California, "while the downturn reset core green employment back to 2008 levels, total state employment was set back to 2001 levels." The growth in green industries over the longer term is even more dramatic, "growing 53 percent since 1995" while "the economy grew 12 percent overall".
According to Laskow, one explanation for the strength of the green economy is that, "green industries become more attractive economic opportunities in times of downturn, since they promise cost savings and resilience in the face of rising costs." It probably doesn't hurt that green jobs are able to provide such savings along more altruistic principles.
Laskow concludes that the staying power of green jobs will provide a springboard as the overall economy returns to growth.
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