As income gap widens, uncertainty spreads

[mrbowler]

Good Reading IMO


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"College graduates have, in recent years, become an increasingly large percentage of the long-term unemployed. When they find new work, their salary cuts have been especially deep."

"Is this just another rocky stretch of the U.S. economy that, if left alone, will foster new industries generating millions of as-yet-unimagined jobs, as it has during other times of upheaval? Or is the workforce hollowing out permanently, with those in the middle forced to slide down to low-paying jobs without benefits if they can't get the education, credentials and experience to climb up to the high-paying professions?"


I'd say yes to both questions..the real question in my mind is whether enough high-paying professions will be created.

[prism68]

Originally Posted by mrbowler

...Or is the workforce hollowing out permanently, with those in the middle forced to slide down to low-paying jobs without benefits if they can't get the education, credentials and experience to climb up to the high-paying professions?"

I know in my case, I am now considering returning to school to earn my Specialist degree- largely because the only way I can keep up with college costs for my kids and other exponential growth areas is to increase my income.

[whitequeen96]

Personally, I think it may be time to bring back the guillotines! And I've got my chair and my knitting ready!

[mrbowler]

Looks like the tax cuts are working

This could explain why the bottom 50% don't feel good

Flip this around-The bottom half only earn approx. 13%

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"In 2005, the top 50 percent of American earners brought in 87.17 percent of the nation's income, also an all-time high for the data available"