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In large part, this is a consequence of Thatcherism's emptying communities of millions of secure, skilled industrial jobs.
There's the disappearance of secure, skilled jobs, and the failure to replace them, leaving entire communities behind – from the northeast of England to the rust belt of the United States.
The time to celebrate recovery will be when ordinary workers return to pre-crash living standards and the economy is generating more secure skilled jobs with good prospects and decent pay.
That's because there are currently more than half a million of these jobs going unfilled — a figure that is estimated to double by 2020 due to an inability to secure skilled talent.
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"The priority for me is it creates good, skilled, secure jobs, it's an industry for the future and it builds on our existing strengths, skills and heritage".
A firm's decision to engage in apprenticeship training is to a large extent determined by the cost-benefit ratio of such an investment compared to other alternatives of securing skilled workers.
Its workforce is secure, engaged, skilled and autonomous enough to become the motor of innovations big and small.
However, Gus O'Donnell, former head of the home civil service, countered that it is "self-defeating" to attack officials, and that ministers are to blame for failing to ensure that salaries are sufficient to secure properly skilled staff.
Mr Draghi, in contrast, hinted that more measures to stimulate the European economy are in the offing.Yet Ms Yellen, Mr Draghi and many other central bankers at the conference share a common concern: their labour markets are bifurcating into secure, predominantly skilled jobs on the one hand and insecure, mostly unskilled work on the other.
It is therefore also important to ask whether immigrants are able to make their way into more secure, higher skilled jobs after several years in the labor market.
Considering in which sectors immigrant workers are concentrated will help us understand which types of employment offer the best chances of movement into more secure, higher skilled jobs for immigrants.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com