major_vs_career(lg).CMC/HC2014

Unemployment By Educational Attainment

In the current economic upheaval, those individuals with more education are unemployed at lower rates than all other groups. Or by wages, assuming that wage is an indicator of educational attainment, those with $60,000+ in wages have lower rates of unemployment than those earning less than $60,000. However, if the recession during The Great Financial Crisis of 2009 is an…

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The Unemployment Conundrum Continues

Increasing emergency unemployment claims seems to indicate more people have lost their jobs, yet decreasing continuing jobless claims could mean those unemployed are now employed or failed to get a job, thus are or at risk of being permanently unemployed (or those no longer looking for work.) Translation: we either have at best a bifurcated job market or at worst,…

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The Shrinking American Middle Class, Part 4

The American middle class is shrinking, as educational achievement plateaus at the average level of attainment and more middle class families compensate the lagging educational achievement with discretionary spending on extracurricular activities and supplemental academic support services.  By the late 1970’s, the collapse of American manufacturing sector made way for the meteoric rise of the knowledge-based service and technology sectors,…

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Paradise Lost

Many are doing more with less, while living through the global, systemic retreat from “life as we knew it”, induced by a virus we cannot see. For some, though, doing the “same with less” is now their life’s maxim, having accepted substantial pay cuts to remain employed during the current economic upheaval.  As Megan Casella of Politco writes: Now, with…

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Delayed Economic Vitality

As the Class of 2020 commences, into what economic state do they commence? As reported by Courtney Weaver in the Financial Times on May 28, 2020: With US unemployment at its highest level since the second world war and the country still grappling with the economic fallout of coronavirus, university graduates are watching start dates be deferred, internships cancelled and…

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Educational Investing Quagmire

As state revenues shrink, the subsidies to public K-12 schools and higher education systems will shrink proportionately, effectively increasing the (or likelihood of) fiscal deficits for educational institutions. In a recent Bloomberg News article discussing the economic state of affairs in California, the fifth largest state economy in the United States:  California Governor Gavin Newsom said the economic slowdown caused…

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Middle Class Wealth Erosion Set to Continue

The above chart depicts that the wealthiest and upper middle class have not only regained their wealth previous to the 2008 recession, but gained greater wealth, at the expense of the middle class and poorest classes. And, now, middle class and poorer families are facing an even greater economic downturn that has yet to be even defined in scope, though…

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