College For All; Good Jobs For A Few?
A recent study by the Center for Policy Research (CEPR) asks the question that must be on the minds of college grads, now working as coffee shop baristas: “Where Have All the Good Jobs Gone?” The answer: swallowed by corporate profits and the personal portfolios of the ultrawealthy.
Despite the fact that the American economy has experienced “enormous” productivity gains since the late 1970’s, the study finds that the number of “good jobs” (defined as those paying at least $37,000 per year, with employer-provided health insurance and an employer-sponsored retirement plan) has declined from 27.4 percent in 1979 to 24.6 percent in 2010. This discouraging trend was strong even before the onset of the country’s economic crisis: in 2007, the year before the onset of the recession, only 25 percent of college grads had “good
Despite the fact that the American economy has experienced “enormous” productivity gains since the late 1970’s, the study finds that the number of “good jobs” (defined as those paying at least $37,000 per year, with employer-provided health insurance and an employer-sponsored retirement plan) has declined from 27.4 percent in 1979 to 24.6 percent in 2010. This discouraging trend was strong even before the onset of the country’s economic crisis: in 2007, the year before the onset of the recession, only 25 percent of college grads had “good