Solving the Lack Of Good Jobs       
 
 

Middle Income Jobs Are Disappearing

This job polarization has decreased the career opportunities for High School graduates.

Bureau of Labor Statistics reports 545,000 jobs have been added  in the past two years in what it quaintly calls “food services and drinking places.” That is about 30% of the net increase in employment (1.84 million) between July 2010 and July 2012." 

 

 
 

Why Stagnant Job Market?

Occupational churn — the rate at which workers move to different occupations Declined for a Second Time

     First Gilded Age for the Wealthy  1865 to 1910 came from the Industrial Revolution.
It created a mistreated a factory working class finally helped by the Progressive Era.

Second a Flat World of Free Trade and another Industrial Revolution moved many to lower paying jobs.

"There’s no doubt automation is affecting the US job market. It always does.
For instance: US manufacturing output rises  as employment falls,
thanks in part to more and more capable machines helping humans become more productive.
And automation is a key contributor to job market polarization.
Jobs are created at the top and bottom but not so much in the middle.
Machines have been replacing humans in middle-skill jobs that involve performing “routine, codifiable tasks,”
as explained by economist David Autor."

See World Changed and Good Jobs Disappeared and US Economic Normality 1945-2015    Part 2

 
 

 


Academic Education is Not the Answer

About 25% of Jobs Will Require a Bachelor's or More

Existing and Future Entry Level Jobs by Education and Training

 

2014 Employment

   
Typical entry-level education Employment Need Rank

Number in millions

Percent distribution

Expected  Created Jobs
2014-2024  millions
Less than Bachelor's
2014-2024
millions

High school diploma or equivalent

1

55

36

20 20

No formal educational credential

2

41

27

11 31

Bachelor's degree

3

32

21

7 7

Postsecondary no degree award

4

9

6

5 36

Doctoral or professional degree

5

4

2

few  

Master's degree

6

2

2

few  

Some college, no degree

7

4

4

few  

Associate's degree

8

3

2

few  

Total, all occupations

NA

151

100.0

NA  

Footnotes:   1 Data are from the Occupational Employment Statistics program, U.S. Bureau of Labor Statistics. Note:   The occupational employment and growth rates shown in     this table include projected growth in all jobs from 2014–24, not just entry-level jobs. Entry-level education reflects 2014 requirements—BLS does not project educational requirements. Source: Employment Projections program, U.S. Bureau of Labor Statistics

Editor's Note: Don't be surprised in Masters degrees drop as being half an expert is not enough. Especially given some of the easy programs. My guess is many of the CC certificate programs will become associate degrees as professionals try to limit competition.

College Poor investment?
(36 +7)/ 7 = 16%
(36 +7)/ 36 = 84%

 

   

 


Candidate Solutions

 

HC Wants Workforce Skills and Job Training
Every American should be able to learn the skills they need to compete and succeed. Source

DT Wants to Renegotiate Free Trade
To Bring Back Assembly Jobs from China
 and Mexico, Japan and elsewhere.

See Free Trade Solution or Problem?
 

Editor's Note: We Have a No Jobs Problem!
"...the idea that you can just have better training and then there are all these jobs, all these places where there are shortages and we just need the trained people is fundamentally an

evasion."  " The core problem is that there aren't enough jobs. If you help some people, you could help them get the jobs, but then someone else won't get the jobs. " Lawrence Summers, The Future of Work (2015)

   

Good News

Well-Being is More Important Than Income

1) Our society's stability has allowed U.S. productivity consistently increased which is a key to individual well-being. Think how the public safety net has increased since the 1930's and the success of the federal children's bureau. Who wants to give up SS and Medicare? Why do some always want to cut the other guys government benefits. Think economic distress in Russia, Europe, and even Japan and Germany.
2) Scientific achievements have continuously added to citizen well-being. Think public health, smart phones, streaming audio-video, Gillette Stadium ... See Health Problems Solved
3) Personal Income which is a function of nature and nurture has increased continuously if not always rapidly. Think Russia, China, and Europe's really slow recovery from the Great Recession. 
Source Is The Country In Trouble?

 

 

See
This is the Greatest Period in World History/
Ten Reasons to be Bullish on U.S. Economy

Where Has All the Income Gone by the Minneapolis FED disputes the stagnation of income theories believing the medium household compensation is the appropriate measure. It calculates an increase in median compensation of between 44 add 62% depending on household type. 

Editor's Note: Were it not for advancements made over the last 100 years the problem of no jobs would rank with those created by the great farm migration to the cities that began 150 years ago.

 

 
   

 

Recent Salary Data

In it's most recent survey, the National Association of Colleges and Employers found that for 10 broad degree categories ranging from engineering to communications, 2016 graduates are projected to have an average salary of $50,556. That’s up 5% from 2014, when new grads earned an average of $48,127

Mid Career Salaries by Major

 

Occupations that Need More Education for Entry are Projected to Grow Faster

Other available formats: (XLSX)

Employment, wages, and projected change in employment by typical entry-level education
(Employment in thousands)

Typical entry-level education

Employment Need Rank

2014 Employment

Employment change, 2014–24 (percent)

Median annual wage, 2015(1)

Number in millions

Percent distribution

High school diploma or equivalent

1

55

36

35

$36

No formal educational credential

2

41

27

8

$21

Bachelor's degree

3

32

21

8

$70

Postsecondary no degree award

4

9

6

13

$36

Doctoral or professional degree

5

4

2

12

$100

Master's degree

6

2

2

14

$66

Some college, no degree

7

4

4

1

$34

Associate's degree

8

3

2

9

$50

Total, all occupations

 

151

100.0

6

$36

Footnotes:
  1 Data are from the Occupational Employment Statistics program, U.S. Bureau of Labor Statistics.

Note: The occupational employment and growth rates shown in this table include projected growth in all jobs from 2014–24, not just entry-level jobs. Entry-level education reflects 2014 requirements—BLS does not project educational requirements

Source: Employment Projections program, U.S. Bureau of Labor Statistics