The lowest-paid workers have seen their hourly wage rates rise by just 40p in the last decade (Image: PA) Low-paid workers saw their real hourly wage rate rise by just 40p in the last 10 years, a shock report reveals today.
Grafters “trapped” in poorly-paid jobs were unable to “escape” an “endemic, vicious” low-wage cycle, according to experts.
A Resolution Foundation study for the Social Mobility Commission outlines how only one in six low-paid workers (17%) managed to permanently escape low pay in the past decade.A quarter of low-paid workers remained permanently stuck in low pay and nearly half (48%) moved […]
View Original: Low-paid workers have seen their hourly rate go up by just 40p in 10 years, says shock report
City University of New York campuses made a strong showing among colleges with the highest mobility rates, a measure of the percentage of all students in a birth cohort at a particular college whose parents were in the bottom 20 percent for household income, and who reached the top 20 percent for individual earnings. Seven CUNY campuses were in the top 10 for mobility rates among four-year public colleges, and five CUNY campuses were in the top 10 among two-year public colleges. Five historically black colleges and universities ranked in the top 40 for mobility rates among four-year private […]
View Original: Colleges With the Highest Student-Mobility Rates, 2014
Y ounger generations have been experiencing more unstable labor market conditions and widening inequalities, the Organization for Economic Cooperation and Development said on Wednesday.
This contributes to widening inequality in old age, while socio-economic disparities in health status remain large, Anadolu Agency quoted OECD as saying.
“Ageing unequally is detrimental to future economic growth, particularly where inequality of opportunity locks in privilege or exclusion, undermining intergenerational social mobility and jeopardizing social cohesion,” the report said.Defining ageing as an unequal phenomenon that develops throughout the life course and materializes in old age, it said: “It is often the result of specific episodes […]
View Original: OECD: Youth Likely to Face Higher Inequality in Old Age
If the new generation can’t do better than their parents, is the American Dream dead? (Photo: Beth Rankin )
Our latest Freakonomics Radio episode is called “Is the American Dream Really Dead?” (You can subscribe to the podcast at iTunes or elsewhere , get the RSS feed , or listen via the media player above.)
Just a few decades ago, more than 90 percent of 30-year-olds earned more than their parents had earned at the same age. Now it’s only about 50 percent. What happened — and what can be done about it? Below is a transcript […]
View Original: Is the American Dream Really Dead?
Jacquelyn Martin / AP America Hernandez, who is now 34, can divide her working life into two periods: before DACA protections kicked in, and after. Before the Deferred Action for Childhood Arrivals program was created in 2012, Hernandez, whose parents brought her to the U.S. from Mexico when she was three months old, was not eligible to work legally in the United States. Until her late 20s, she cobbled together a living working at various restaurants—not what she’d wanted to do when she graduated with a bachelor’s degree from Fresno State in 2003. She’d had two job offers in […]
View Original: From ‘Dream Jobs’ to Bussing Tables Again
IMAGE: Pay-it-forward financing programs could have differing effects on college access and voter support for tax subsidies, depending on how individual voters fare economically, suggests a paper co-written by University of… view more Credit: Photo by L. Brian Stauffer CHAMPAIGN, Ill. — Pay-it-forward college financing programs that enable students to pay tuition upon departure rather than entry may make college more accessible to greater numbers of students in the U.S., a new analysis suggests.
And despite some critics’ fears, PIF programs could increase – rather than erode – public funding for higher education, say the researchers, higher education finance expert […]
View Original: Pay-it-forward college financing policies examined in new study
State of Working Oregon Series
Income inequality in Oregon is at an all-time high, by one key measure. The difference between the average income of the richest 1 out of 1,000 Oregonians and the typical Oregonian has never been bigger. 
Confronting income inequality is perhaps the greatest challenge facing Oregon today. A growing body of research indicates that income inequality not only limits the ability of working families to get ahead, it also undermines economic growth.  Lawmakers must avoid exacerbating income inequality and enact policies that reduce inequality, to ensure all Oregonians have the opportunity to flourish. The […]
View Original: Highest Earning Oregonians Pull Away
Shineade Sey is about to move. After three years in a flat in south-east London, she is selling up and buying a house with her partner. Sey, who is half Jamaican and half Ghanaian, says she is lucky – when her former employer was bought out she got a payment that meant she was able to buy her first home. “Without that, I would probably still be saving now,” she says. While her white friends had already bought by the time she could afford to, she was among the first of her friends of black descent. “Their parents weren’t […]
View Original: We know there’s a housing crisis – but why is it so much worse for black families?
Falling short: More and more black Africans are joining SA’s middle class, of which they make up half, but they are still underrepresented in terms of the percentage of the overall population who are black. Race remains a strong predicter of chronic and transient poverty. Picture: ISTOCK Until recently, SA’s emerging black middle class was hailed as the sign of a new, deracialised postapartheid economy. But research shows the stable middle class may be much smaller than previously thought.
Statistics SA has found that 55% of South Africans are poor, unable to meet their most basic needs. This means only […]
View Original: Stable middle-class in SA may be smaller than thought, study shows
One of the most commonly taught stories American schoolchildren learn is that of Ragged Dick, Horatio Alger’s 19th-century tale of a poor, ambitious teenaged boy in New York City who works hard and eventually secures himself a respectable, middle-class life. This “rags to riches” tale embodies one of America’s most sacred narratives: that no matter who you are, what your parents do, or where you grow up, with enough education and hard work, you too can rise the economic ladder.
A body of research has since emerged to challenge this national story, casting the United States not as a meritocracy […]
View Original: Education Isn’t the Key to a Good Income