Ezra Klein interviews economist Michael Spence on the subject. Spence sees no easy fix:
I don’t think there’s a solution to the employment problem in the short run. If you look at the situation, the domestic economy is demand short. That neutralizes the non-tradable part of the economy [Note: by non-tradable, Spence means things that don’t get traded across borders, such as education and health care. You can read more on the distinction here — E.K.], which is 70 percent of what we do, and neutralizes the domestic component of the tradable part. And the tradable part, even if it’s growing, won’t generate much employment. So we’re just not positioned to solve this unless the non-tradable sector starts to grow again.
The Dish 