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62 Percent of All U.S. Jobs Do Not Pay Enough to Support a Middle Class Life
- forkLding 8y agoThe actual study quoted: https://www.thirdway.org/report/the-opportunity-index-ranking-opportunity-in-metropolitan-america https://www.thirdway.org/report/the-opportunity-index-rankin... Note that a middle class job in their definition pays around $44k to $80k while "professional" jobs are >$80k and the data is really for a family of four when accounting for middle class and professional.
- xupybd 8y agoWhat percentage of those are transitional jobs? I left school and worked a few years at terrible pay. But I'm older now and earn a good wage. I don't see a problem with people following these steps.
- lovich 8y agoA fine point, there definitely transitional jobs like you've described and a healthy economy needs that much the same way we need some level of unemployment. However, should 62% of all jobs be transitional?
- xupybd 8y agoNo 62% is too high for that. But knowing how many are transitional helps put that number in context.
- rtx 8y agoLabor supply is increasing due to more women and people from third world countries joining the global workforce. In longrun salaries should stabilize globally.
- NTDF9 8y agoThere are 2 ways this happens: 1. People are getting paid lower than the cost of goods and assets 2. Goods and assets are priced above what people can afford I suspect its number 2. All asset prices are completely out of whack with what people can afford. The only only way out of this is a depression in asset prices.