Tag Archives: employment

Education Isn’t the Key to a Good Income

A man climbs a ladder.

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 […]

When Economic Growth Indicates Failure

David Korten Economy.jpg

Nothing can be duller than listening to an economist or other policy expert pontificate endlessly on such metrics as gross domestic product, stock market prices, employment, and consumer confidence. Most of all they talk about GDP: Rising GDP is good; falling GDP is bad. But as a measure of economic activity, GDP is what it says it is: a gross number. It doesn’t measure how money and wealth circulates through a system, what use it is put to, how the rewards of its use are distributed. It just counts how much comes out of the spigot at the end […]

INCOME INEQUALITY SOCIAL MOBILITY

AND ECONOMIC GROWTH*

Federico Cingano, ELS Employment Analysis Division

*Source: OECD (2015) In It Together: Why less inequality benefits all OECD Publishing, Paris.2/15• Long-standing interest in data collection and analysis • Early works → mid 1970s; regular data collection → mid 1990s• Documented the (increasing) patterns of income inequality across MCs in many publications • Latest one warns: “The gap between rich and poor is at its highestlevel since 30 yearsâ€OECD work on income distribution …Shares of bottom, middle and top incomes in total income, OECD average 1985 to 2011/12, 1985 = 10.800.901.001.101.201985 1990 1995 2000 2005 2010Traditional definitionbottom 10% middle […]

Flat wages to worsen intergenerational inequality: thinktank

Australia has avoided recession but new research by a progressive thinktank suggests low wage growth and unequal spending on the "infrastructure of opportunity" threaten to entrench wealth inequality.

The Labor-aligned McKell Institute’s report, Mapping Opportunity: a national index on wages and income , found the income gap is widening and that the opportunity to earn differs markedly across the country’s 150 federal electorates. Treasurer Scott Morrison has rejected Labor claims that inequality has reached a 75-year high. Photo: Alex Ellinghausen And it found that along with the traditional drivers of social mobility, such as education and training, and locality, access […]

Raj Chetty in 14 charts: Big findings on opportunity and mobility we should all know

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Editor’s Note:

Raj Chetty will present his research on "The Lost Einsteins" January 11 at Brookings. Watch the webcast here . Authors

Few scholars make as big an impact on their field as Professor Raj Chetty . As leader of the Equality of Opportunity Project , and with access to (anonymised) tax records, Chetty and his co-authors have transformed our understanding of social mobility in the U.S.Among the many virtues of the Project’s approach is a willingness to share the datasets used in each of their analyses, for use by other researchers as well as policymakers or the general […]

LCCC aims to address economic inequality in Lorain County

MDC President David Dodson serves as keynote speaker of the District Board of Trustees’ Community Connections session, held in Lorain County Community College’s Spitzer Conference Center Reaser Grand Room, Jan. 10, 2018. Dodson’s presentation, “Why Mobility Matters,” focused on closing the gap which separates people from opportunity, in their pursuit of the American dream.

MDC President David Dodson serves as keynote speaker of the District Board of Trustees’ Community Connections session, held in Lorain County Community College’s Spitzer Conference Center Reaser Grand Room, Jan. 10, 2018. Dodson’s presentation, “Why Mobility Matters,” focused on closing the gap which separates people from opportunity, in their pursuit of the American dream. Eric Bonzar — NetNeil.Com Lorain County Community College President Dr. Marcia Ballinger kicks off the District Board of Trustees’ Community Connections session in the Spitzer Conference Center’s Reaser Grand Room, Jan. 10, 2018. The session brought together various sectors of the community to form collaborations […]

LCCC, others aim to boost residents’ economic mobility

http://chronicle.northcoastnow.com/abbewood/

ELYRIA — Lorain County residents who start at the bottom are likely to stay there.

It’s a startling statistic, but one community leaders are aiming to solve, starting with the conversation Wednesday night at a community forum hosted by Lorain County Community College.

According to research from the Equality of Opportunity Project, a child in Lorain County who is born and raised in poverty has a 5.1 percent chance of reaching a family income of $70,000 by the age of 30, or more than $100,000 by age 45.More than likely, those who start at the lowest income levels will stay there.That […]

LCCC aims to address economic inequality in Lorain County

MDC President David Dodson serves as keynote speaker of the District Board of Trustees’ Community Connections session, held in Lorain County Community College’s Spitzer Conference Center Reaser Grand Room, Jan. 10, 2018. Dodson’s presentation, “Why Mobility Matters,” focused on closing the gap which separates people from opportunity, in their pursuit of the American dream.

MDC President David Dodson serves as keynote speaker of the District Board of Trustees’ Community Connections session, held in Lorain County Community College’s Spitzer Conference Center Reaser Grand Room, Jan. 10, 2018. Dodson’s presentation, “Why Mobility Matters,” focused on closing the gap which separates people from opportunity, in their pursuit of the American dream. Eric Bonzar — The Morning Journal Lorain County Community College President Dr. Marcia Ballinger kicks off the District Board of Trustees’ Community Connections session in the Spitzer Conference Center’s Reaser Grand Room, Jan. 10, 2018. The session brought together various sectors of the community to […]

Wages — finally — tick higher, boding well for the entire economy


Hide caption Workers in the tightest American labor markets are finally receiving pay packages that are growing faster than inflation.

According to a Jan. 1 article in the Wall Street Journal, cities such as Minneapolis, Denver and Fort Myers, where unemployment is around 3 percent, the labor market has tightened so much that businesses need to increase wages to attract employees. In Minneapolis, for example, where unemployment is 2.3 percent, wages have risen by 4 percent.

We need to applaud higher wages because they enable people to spend more. This sets in motion a virtuous cycle: More spending by consumers creates […]

The “Vicious But Brilliant Exploitation” That Drives Right Wing Economics


Photo via EPI This month, Thea Lee took over as president of the Economic Policy Institute, America’s premier left-wing economic think tank. We spoke to her about Trumponomics and the fight for equality.

Lee spent two decades as an economist at the AFL-CIO, America’s largest federation of unions, before taking over as head of EPI—a group that produces some damn good charts . She will have her work cut out for her.

Splinter: What do you think are the root causes of the decline of unions and organized labor in America, over the past several decades? Thea Lee: There’s probably […]