Agree with everything you wrote. Bottom 20pct includes welfare recipients so incomes have actually gone up. Aside from teachers, others that have benefited include people with red tape related jobs including government workers and some lawyers. Those people are not feeling the new world order....
quote author=cjd link=topic=63601.msg559104#msg559104 date=1346602443]
I honestly don't see where any part of the picture got better for anyone since 2007... It may be worse for for college educated people today because unlike 20 or 30 years ago almost everyone under the sun does some college time... The business world is flooded with 100 people qualified for a job that 10 people 30 years ago were qualified to do... Business were competing for the best of this smaller labor pool...With todays glut of people applying for positions they can get qualified people for a lot less...The professions are no better... Lawyers and GP doctors are a dime a dozen... A great deal of back office work is now done by people in India cutting the need for low level lawyers or medical professionals...The only reason the labor market income has stayed the same or slightly improved for low level workers is the fact that people taking jobs like this are getting paid more or less market wages for lack luster jobs most people would rather not do... The only group I see still holding strong are the Teachers... Here where I live they are good for over 100g's a year work about 200 days a year and retire with 3/4 pay and full benefits after 30 years.
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