The young, broke, and indebted American: 45 percent of 25 year olds carry student debt and the median net worth of those 35 and younger is one month of expenses.
It is clear looking at economic data that young Americans were not sent the memo regarding this economic recovery. People do realize that the “Great Recession†officially ended in the summer of 2009, right? We’re heading into year six of this recovery but many are simply seeing lower paying jobs, a deeper reliance on debt, […]
Low wage jobs and the increase in non-working America grow: Half of jobs added last month were in low wage fields and those not in the labor force jumped by 354,000.
If we look at the labor force in sheer numbers we find a couple growing themes. The number of low wage jobs continues to dominate employment growth. Of course this will only add additional burdens to an already cash strapped young American worker. Financial pundits would say any job is better than no job. Speaking […]
The 35 year drought in real wages for American workers: American workers really haven’t had a raise since 1979.
Economic recoveries take on a variety of shape and sizes. With stock markets reaching new highs you would expect that some of the fruits of this boom would trickle down to American workers. But some of the booming trends are continuing on the path of low wage labor and certainly, of turning people into contract […]
The long inflation con on the public: How the CPI severely underreports inflation and the slow erosion in the American standard of living.
The Consumer Price Index (CPI) is supposed to give us a good barometer of price changes in the economy. Unfortunately the CPI misses many big items like housing and college tuition. The latest report shows that the economy had a taste of deflation for the first time since the Great Recession hit. Of course this […]