Post by kitkat on Jun 20, 2012 19:09:45 GMT -5
of the workforce:
~65% highschool grad
~25% college grad
~10% HS dropouts
1973-2011 (in 2011 dollars) saw a drop in income (hourly wage) for HS grads of 20% overall, 25% for men, 14% for women. That applies to about 65% of the consumers in the country.
College grads saw an overall increase of 10%. 5% for men, 15% for women (whose pay, however, is 86cents on the dollar compared to men.) www.nytimes.com/2012/06/19/us/many-american-workers-are-underemployed-and-underpaid.html
HS dropouts we can just write off.
The money lost to the working/lower classes is still in the economy of course, it has just been relocated to the top decile and above--where it isn't spent, but is instead used to--make *more* money through interest/appreciation in capital investment. Which also isn't spent. Basically, this once working class wealth just disappeared into an economic-cyber zombieland.
~65% highschool grad
~25% college grad
~10% HS dropouts
1973-2011 (in 2011 dollars) saw a drop in income (hourly wage) for HS grads of 20% overall, 25% for men, 14% for women. That applies to about 65% of the consumers in the country.
College grads saw an overall increase of 10%. 5% for men, 15% for women (whose pay, however, is 86cents on the dollar compared to men.) www.nytimes.com/2012/06/19/us/many-american-workers-are-underemployed-and-underpaid.html
HS dropouts we can just write off.
The money lost to the working/lower classes is still in the economy of course, it has just been relocated to the top decile and above--where it isn't spent, but is instead used to--make *more* money through interest/appreciation in capital investment. Which also isn't spent. Basically, this once working class wealth just disappeared into an economic-cyber zombieland.
