Earlier quoted context omitted.
Not sure how it works in the US, but in some parts of Europe, blue collar trades are currently much better, for several reasons: - Price of housing and associated maintenance keeps rising, and so do small jobs like fixing plumbing, gardening, etc; - You can easily avoid paying VAT if you know how to, so that's a 20% increase, or even more, if you can benefit from social services (e.g. since you don't earn a lot, you…
Is it actually true that the savings on home maintenance and social services offsets the higher salaries of white collar work? That's kind of crazy if it's true. In the US, you can make pretty good money in the trades, but generally, there are many caveats - you have to be your own boss, preferably with a few employees; you pay your own benefits; you don't get any paid leave; and depending on the trade, you could be…
Yes, this is called Baumol's cost disease.