According to a report earlier this month by Bloomberg News, 70 percent
of all job gains in the past six months were in four sectors—restaurants
and hotels, health care, retail trade, and temporary employment—where
low wages prevail.(1)
It's a classic case of of bad math, looking at differences in education and assuming that if everyone is educated the same there will be no inequality(!) In fact most jobs in the future U.S. economy will not require a higher education.
Ultimately, it has to come down to higher wages for working class jobs. Not pretending that an economy can be made up entirely of software engineers and project managers.
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1'US slowdown intensifies global economic crisis', WSWS
2 comments:
"Ultimately, it has to come down to higher wages for working class jobs. Not pretending that an economy can be made up entirely of software engineers and project managers."
Yes, or what amounts to the same thing: less income disparity in general. (I prefer to say it without an inflation bias.)
Yeah, I've become increasingly skeptical of the idea that if everyone went to college, no one would be poor.
Particularly, opinion columnists keep saying we don't have enough graduates in the STEM fields, but publications within those fields worry about an excess of newly-minted PhDs.
(I have personal reason to be bitter whenever I read a piece touting a STEM degree as a ticket to a good-paying job: I *HAVE* one, and I've never yet held a paying job. Technocratic elite my eye.)
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