The Economic Policy Institute recently published this sobering piece, Even the Most Educated Workers Have Declining Wages
Here’s the part all of you fellow white-collar workers – and especially those of you who dismiss or deride the concerns about minimum and living wages – need to read and understand:
“The workers with the credential that should be in high demand—four-year college graduates—have not done that well, especially in the last year. In fact, among education categories, the greatest real wage losses between 2013 and 2014 were among those with a college or advanced degree.”
The questions that my fellow college educated white-collar workers better start asking themselves are:
Why is this happening if we’re in a recovery?
What does this portend for earnings and living standards for current and future college grads?
Can their jobs be outsourced, too? (The answer to that question is, “Yes!”)
What’s it going to take before we all band together across social, political party, and ideological lines to insist on legislation that forces the people running corporations to share more of the wealth they garner from *our* labor with us?
Can we stop and then reverse the trend of declining wages for EVERYONE any other way than through legislative fiat?
We didn’t get into this mess BECAUSE of government regulation and interference. The income and wealth inequality problems of today are present and worsening precisely because we have been on a 30 year trend of LESS REGULATION of business. (here, here, here, here, here, and on and on and on)
My plea to all my fellow college grads and white-collar workers is, “Use your intellect, please.”
Are you simply going to stand by and allow yourselves and your progeny to be trapped in the current race to the bottom in wages and living standards simply because you refuse to ask – nay, demand – that our government exercise more control over the distribution of wealth coming from our labor but being hoarded by the precious few running private enterprises?
How does that make any sense, and how could things possibly get worse than where they seem to be going?
#wages #jobs #middleclass #economics