Quantcast Vanishing Middle Class? Hardly!
Search by tag or site Login to my blog ? Start my own blog














TheMoneyBlogs
Home
About
Create your own blog
Contact us
Vote for this blog!

Poor and Stupid

How big government, big business, big media and big academia block your road to financial freedom- and tell you it's for your own good.

Vanishing Middle Class? Hardly!

Posted on 10/24/2007 08:50:12 | Link | Post Comment
Centrist liberal economist Stephen Rose:
...incomes and employment have grown by substantial amounts in every state (even in the so-called Rust Belt) since the passage of the North American Free Trade Agreement in 1993.

In fact, there is no convincing, data-driven proof that trade has led to any overall job loss during the last 30 years. To the contrary, the economy has grown at a slow but steady rate (a few brief recessions notwithstanding) with trade and employment rising in tandem.

For example...
As recently as 1979, 61% of female workers were in jobs that paid less than $25,000, and only 3% earned more than $50,000 a year. By contrast, more than 36% of new jobs that opened since 1979 for women pay more than $50,000 [all figures adjusted for inflation] and only 17% pay less than $25,000.

...There has been a tremendous growth in the number of men in high-paying jobs: In 1979, just 10% of male workers earned above $75,000, while fully 34% of new jobs since 1979 have paid this amount or more.

...For three-quarters of the workforce (women and the top half of male earners), economic growth translated into earnings gains. But for male workers in the bottom half of the earnings distribution, the decline of unionized manufacturing employment has led to the drying up of some middle-class jobs for those with no post-secondary education.

For the clear majority of the workforce, then, the job market has become more welcoming, not less so.

Stock Quote or
Examples
Morpheus Trading - Tue Sep 02, 2008 05:21AM
NOTE: Please click on the charts below to enlarge them [read more]
Morpheus Trading - Thu Sep 04, 2008 04:34AM
NOTE: Please click on the charts below to enlarge them if [read more]
Morpheus Trading - Wed Sep 03, 2008 04:35AM
NOTE: Please click on the charts below to enlarge them [read more]

PREMIER SPONSORED LINKS

Most Visited Blogs | Most Popular Blogs | Most Recent Blogs | Contact Us | Terms and conditions | Privacy Policy

The columns, articles, message board posts and any other features provided on TheMoneyBlogs.com are provided for personal finance, education and investment information and are not to be construed as investment advice. Under no circumstances does the information in this content represent a recommendation to buy, sell or hold any security. The views and opinions expressed in an article or column are the author's own and not necessarily those of TheMoneyBlogs.com and there is no implied endorsement by TheMoneyBlogs.com of any advice or trading strategy. The analysts and employees or affiliates of TheMoneyBlogs.com may hold positions in the stocks or industries discussed here. Your use of this and all information contained on TheMoneyBlogs.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

Copyright © 2008 The Connors Group, Inc.