Academic Education and
Gascon and Spewak said wages in advanced manufacturing are high, with the average worker (both production and nonproduction) earning more than $1,600 per week. Wages were highest in computers and electronics manufacturing ($2,300) and chemical manufacturing ($1,900), they noted.
“Today, the average advanced manufacturer makes $1.53 for every $1 that the average private sector worker makes,” Gascon and Spewak wrote.
In contrast, workers in non- advanced manufacturing sectors earn essentially earn the same wage as other private sector workers, they noted.
BUT “Advanced manufacturing employment as a share of private employment has steadily declined over the years, but the sector remains a significant cog in the U.S. economy,” Gascon and Spewak concluded.Economic and Non-economic Return
Human Capital Economic
Model Applied the Role of Education
My Keene State College 1990 Economics 101 class was given data showing that average college graduates make much more than high school graduates. They had seen it before. That is why most of them were in college. Then I showed them median income of college graduates. They were disappointed with the lower number.
I explained how some really high earners make the mean higher than the median. Then I showed them data indicating the bottom quarter of college graduates earned about the same income as high school's top-quarter. They became more unsettled. Then I gave them the lowest income statistic of all, the median income for those with just a bachelor's degree. Those with higher degrees were left off. From the back of the room I heard "you mean they are ripping us off.
I pleased to report that the Great Recession has mass media coverage of the decreasing economic return from a college education has substantially increased. But like any unwelcome news, parents, teachers, and politicians will be the last to react properly. The collateral damage has been immense. It will continue to be so unless some responsible mass media helps makes an educational system that improves the well-being of all students . Here is the collateral damage of our love affair with college.
College graduates who can't find a job and dropouts owe over 1.3 trillion dollars in outstand college loans and are finding they do not have the skills to earn a positive economic return from their investment.
Disgruntle U.S. graduates and dropouts whose needs were not met by their investment of many years in school and from whom society receive little support. In fact, many need society's support.
The Tiger Mom social stress has spread to many academically oriented suburban communities. See Reforms to ease students stress divide a new jersey school district The overly academic approach used by most high schools originally had a negative social affected on less advantaged students. Now it is showing up in middle class males.