As most Americans return to work following Monday’s fourth of July holiday, so the nation’s political class also return to their jobs, following majority leader Harry Reid’s cancelling of the Senate’s scheduled Independence Day recess. Top of the agenda will be negotiations to avoid a crisis over the nation’s debt ceiling. But another issue should also top the agenda: the sluggish US jobs recovery.

The labour market has stalled again in recent months, while the debate over what to do about jobs has long been caught in a political cul-de-sac. The traditional economic tools of the right and left – tax cuts and government spending – have failed to offer much relief in a time when the economy is global, capital is mobile and a few extra dollars in a family’s bank account can go to purchase Chinese-made televisions and clothes at Walmart.

Injecting more money into the economy might have worked when we lived in a national, as opposed to a globalised, economy; when big businesses created most jobs; and when the paradigmatic workplace was the regimented assembly line. But America and other modern economies have entered what might be called the new work order – an economy where most workers are untethered from large institutions and bouncing from one job to the next. In this economy, each worker is, in effect, their own small business – responsible for guiding their own career and economic future.