Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • My Rifles
  • Concentrate on Dividend Record and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Your Health
  • Old Confederacy
  • Main Street Conservative
  • BLM’s Marxist Agenda
  • Ron Paul
  • Bank Credit & Money
  • Freedom Force
  • Dick Young’s Safe America

No Hope for the Middle Class

December 16, 2015 By Debbie Young

Western democracies have not figured out how to maintain jobs and earnings for workers with low skill or modest education, writes William A. Galston in the WSJ. In Europe, there is double-digit unemployment, and, in the U.S., the large number of low-wage jobs does not come with the promise of upward mobility.

Beneath the dry statistics of the latest report from the Bureau of Labor Statistics, we can see that future emerging. Over the next decade, the service sector will provide 95% of all the new jobs. Manufacturing, which shed more than two million jobs between 2004 and 2014, will shrink by an additional 800,000, to only 7% of the workforce. Of the 15 occupations with the most projected job growth, only four ask for a bachelor’s degree; eight require no formal education credentials; nine offer median annual wages under $30,000.

Few Americans know these statistics, but most of them are living the reality they represent. Since the beginning of the 21st century, the economy has ceased to work for households at and below the middle. A recent report from the Pew Research Center finds that the median income for middle-income households is about where it was in 1997. For lower-income households, median income stands where it did in 1996.

There are lessons here for both Republicans and Democrats, warns Mr. Galston. “Economic anxiety, demographic resentment and fears for physical security make a toxic combination.” Read more here.

Embedded below is the Pew Research Center’s tool for identifying where you land on the income spectrum.

Related Posts

  • Fairy Dust for the Middle Class
  • Republicans Selling Out the Middle Class?
  • “America’s Middle Class Is Under Attack”
  • Author
  • Recent Posts
Debbie Young
Debbie, editor-in-chief of Richardcyoung.com, has been associate editor of Dick Young’s investment strategy reports for over three decades. When not in Key West, Debbie spends her free time researching and writing in and about Paris and Burgundy, France, cooking on her AGA Cooker, driving her Porsche Boxter S through Vermont and Maine, and practicing yoga.
Latest posts by Debbie Young (see all)
  • The Fundamental Disconnect of “Unity” and the Progressive Left - January 25, 2021
  • Absentee Ballots Not Verified - January 22, 2021
  • Mostly Peaceful, Ungovernable Protestors - January 22, 2021

Dick Young’s Must Reads

  • Robo-Advisors: When You Have a Lot More to Lose than Money
  • The Butterfly Effect and Chaotic Markets
  • America’s Silent Army with 423M Guns
  • Your Life on Main Street will Never be the Same
  • Why Black Lives Matter Needs to Be Shut Down
  • TAC’s Robert W. Merry Unveils Presidential War Lies
  • Vermont Abandoned, Dairy Farm Economy Devastated
  • “I’ve Got Guys Buying Guns/Ammo for Me All Through the Night.”
  • “Some Sixty Million People Died in World War II”
  • What to Do about China?

Disclosure

RSS Youngresearch.com

  • The Parallels Between Today’s Stock Market and the Dot-Com Bubble
  • Only You Know How Much Gold You Should Own
  • Your Retirement Life: Meet Your BMW Club Racing Program Director
  • Corporations Rush to Reap Equity Windfall
  • Do You Know Who’s the Largest Owner of Farmland in America?
  • Investors Are Being Conditioned Not To Recognise the Danger
  • I’ve Been in Richard Young’s Maximizers for Years
  • What Is the Stock Market’s Link to the Economy?
  • Smith Family Robinson in Live Free or Die, NH
  • Dick Young’s Safe America: Chapter 1, Part I

The Fundamental Disconnect of “Unity” and the Progressive Left

Unmasking Heath and Human Services Secretary Nominee Xavier Becerra

Absentee Ballots Not Verified

SARS-CoV-2: Probability of Outdoor Airborne Transmission Very Low

Your Personal Safety: Concealed-Carry How to Carry Your Freedom

Mostly Peaceful, Ungovernable Protestors

Copyright © 2021 | Terms & Conditions | About Us | Dick Young | Archives