The recession was a market correction not just for housing prices but also for labor prices, and a lot of educated/experienced workers have learned that the market doesn't value their skills like they thought they did.
Millions of educated, experienced workers are tossed aside by a strong economy
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Re: Millions of educated, experienced workers are tossed aside by a strong economy
#42The economy and the education system are out of sync. We are turning out a TON of degrees for a few jobs and expecting people to be able to just succeed based on a 4 year degree program. All the while the economy does expect a 4 year degree for some jobs that really shouldn't. So you're expected to waste money on a degree you don't need to work a job that won't help you pay back your degree because they aren't paying…
Colleges which accept government funding or government-backed student loans should be required to publish employment and salary data for their graduates. For example, what percentage of alumni have found full-time employment in their degree field within 6 months of graduation? That way students would have a more realistic picture of their prospects and could make informed decisions.
Re: Millions of educated, experienced workers are tossed aside by a strong economy
#43I keep hearing that we're in a strong economy, but the reality is that we aren't. It's a strong economy for the rich and powerful, but not really anyone else.
Most American's can't afford a $1000 emergency [1].
Wages actually went down last month [2]
78% of Americans are living Paycheck to Paycheck. [3]
Nearly half of all Americans are low-income or in poverty. [4]
1/5 of children in USA are living in poverty [5]
I want someone to explain to me how this is a "good economy". I keep hearing it. It's total nonsense. I'm glad WaPo is bringing up that workers are still struggling despite these claims of a "strong economy".
[1] https://www.huffingtonpost.com/entry/most-americans-cant-aff...
[2] https://www.washingtonpost.com/news/wonk/wp/2018/06/15/for-t...
[3] https://www.cnbc.com/2017/08/24/most-americans-live-paycheck...
[4] https://kairoscenter.org/wp-content/uploads/2017/02/Poverty-...
Re: Millions of educated, experienced workers are tossed aside by a strong economy
#44>"She once had her own office, secretaries and assistants, along with titles like “director” that spoke to her decades of experience. Now, she’s a temp — one of many. >Levi was laid off from her job at a law office during a merger in early 2015, and has struggled to find long-term work. In late 2016, she filed for bankruptcy." How do you go from director at 59 to filing bankruptcy in fewer than two year after losing…
Are you familiar with the cost of health insurance for someone in their 50s? Along with other non-discretionary expenses, a significant decline in pay can quickly deplete emergency reserves and retirement accounts.
To assume financial irresponsibility is to grossly misunderstand the issue.
Re: Millions of educated, experienced workers are tossed aside by a strong economy
#45From an employer standpoint, educated and experienced = expensive
An ideal employee (in maybe 75% of the positions out there) should only know enough to get his or her job done.
Re: Millions of educated, experienced workers are tossed aside by a strong economy
#46>"She once had her own office, secretaries and assistants, along with titles like “director” that spoke to her decades of experience. Now, she’s a temp — one of many. >Levi was laid off from her job at a law office during a merger in early 2015, and has struggled to find long-term work. In late 2016, she filed for bankruptcy." How do you go from director at 59 to filing bankruptcy in fewer than two year after losing…
Indeed, bankrupt in two years after a high paid career speaks of financial irresponsibility. However, it does seem that in today's world the good jobs are far and in between. The middle class of the 1950's keeps getting squished. And the bridge from low class to middle class is financed by debt that takes often 30 years to pay off (student loans).
Re: Millions of educated, experienced workers are tossed aside by a strong economy
#47I keep hearing that we're in a strong economy, but the reality is that we aren't. It's a strong economy for the rich and powerful, but not really anyone else. Most American's can't afford a $1000 emergency [1]. Wages actually went down last month [2] 78% of Americans are living Paycheck to Paycheck. [3] Nearly half of all Americans are low-income or in poverty. [4] 1/5 of children in USA are living in poverty [5] I w…
Here's what I see: fewer unemployed people around me, but the employed are deep in debt and gradually slipping deeper into it. Standard of living hasn't gone down, but it's financed with debt while interest rates are creeping up.
Re: Millions of educated, experienced workers are tossed aside by a strong economy
#48The economy and the education system are out of sync. We are turning out a TON of degrees for a few jobs and expecting people to be able to just succeed based on a 4 year degree program. All the while the economy does expect a 4 year degree for some jobs that really shouldn't. So you're expected to waste money on a degree you don't need to work a job that won't help you pay back your degree because they aren't paying…
> Again, I don't know the solution. Regulate the number of graduates within a certain degree field? Stop providing loan guarantees for all students regardless of the marketability of the degree they've chosen?
This is the root of the problem. Anyone can get a degree regardless of aptitude. Loans will pay your way in, the school will do everything in their power to stop you from flunking out.
Re: Millions of educated, experienced workers are tossed aside by a strong economy
#49>"She once had her own office, secretaries and assistants, along with titles like “director” that spoke to her decades of experience. Now, she’s a temp — one of many. >Levi was laid off from her job at a law office during a merger in early 2015, and has struggled to find long-term work. In late 2016, she filed for bankruptcy." How do you go from director at 59 to filing bankruptcy in fewer than two year after losing…
Poor budgeting and fiscal irresponsibility are one. Also: getting sick/medical coverage with existing conditions? Mortgate debt on a house that doesn't have equity sufficient to cover costs after sale? Divorce? Family emergency? A combination of these?
Re: Millions of educated, experienced workers are tossed aside by a strong economy
#50>"She once had her own office, secretaries and assistants, along with titles like “director” that spoke to her decades of experience. Now, she’s a temp — one of many. >Levi was laid off from her job at a law office during a merger in early 2015, and has struggled to find long-term work. In late 2016, she filed for bankruptcy." How do you go from director at 59 to filing bankruptcy in fewer than two year after losing…
>How do you go from director at 59 to filing bankruptcy in fewer than two year after losing your job? Fiscal irresponsibility
This is a very entitled and selfish statement. The act of simply existing is very expensive in the USA, and if you have children or have unexpected medical bills that can be tens of thousands or even hundreds of thousands, you can easily eat through all of your savings very quickly and not be able to pay back debts I'm sure they could pay before they were laid off.