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I can post 10,000 charts to show that high school drop outs and non college grads are at the bottom of the economic pool chain in every category
Prime working age Americans 25-54 ages are near 81% and it has gone lower in each on the cycles from the past 2 cycles
A lot of those not working ages 25-54 are high school drop outs, non college educated American, those with criminal records makes it harder for them to find work out of jail
This is the key data line
16-24 and 55 and over aren't that significant in economic output,
BTW do you have a degree?
Conflating all college degrees together is it's own fallacy. The cost of college has to be considered, as in steer clear of the pricey ones. What percentage of those degrees are end up in government jobs?
Labor force flows from employed to unemployed as a % of the labor force -- it doesn't get any better: https://research.stlouisfed.org/fred2/graph/?g=1LWb …
BTW do you have a degree?
Yes I have a degree, Major & Minor 2 homes in So Cal and net worth of roughly 850K , So not rich by CA standards but good enough to live a good life
The cost of college has to be considered, as in steer clear of the pricey ones.
70% of student loan debt is under 14K
13% of it is 50K -100K
3% is over 100K
Graduate School is big bulk of the higher end debt
Don't worry about the educated Asians, Indians, and those getting high tech or medical degrees they make good money
The problem group is 30% of all student loan debt are held by college dropouts and they are by far the highest % of people who are defaulted on their student loan debt
So the problem group once again, college drop outs
What percentage of those degrees are end up in government jobs?
Government jobs are only 22 million out of over 151 million jobs, very small post recovery government jobs in this cycle, in fact it's been the weakest government jobs market post WWII by a lot
We do have a concentrated poverty problem in America, this group right here is struggling big time
- High School Drop outs
- Non College educated Americans
- Those with a drug problem
- Those with a current criminal activity lifestyle and those who aren't in jail but have a criminal record
This group of Americans I believe 100% are having a hard time in America today
So how worried are we supposed to be if these guys have $100k in student debt?
David uses some of my articles on his blog, but that actually is too bullish of a manufacturing outlook, only due to the oil boom, while construction jobs have had their best 12 months in 20 years, the manufacturing bust has been in a long time working
-Globalization
-Technology
-Debt
-Demographics
I would use this chart to show how bad manufacturing has gotten
Have to remember a huge bulk of the firing in the great recession came from high school drop outs and non college educated Americans
Peak unemployment rate during the Great Recession was 5% for College grads
High School drop outs got dinged big time
Have to remember a huge bulk of the firing in the great recession came from high school drop outs and non college educated Americans
Or the demand for college graduates is over stated...
Or the demand for college graduates is over stated...
The High School Drop Outs and Non College educated Americans primarily work in the service job sector, A huge portion of the min wage workers are high school drop outs and non college educated Americans
Most good paying companies won't even look at your resume if you have high school drop out or no college education
You really need a trade show skill to make a living then
On another note I would recommend Lee Adler Wall Street Examiner http://wallstreetexaminer.com/
He is a friend and has some good work and I think you will like his writing
Then what would you say about he breadwinner jobs?
Manufacturing is going to go the way of farming but the US is still the largest manufacturing company in the world, 40% larger than China.
Then what would you say about he breadwinner jobs?
Manufacturing is going to go the way of farming but the US is still the largest manufacturing company in the world, 40% larger than China
Globalization
Technology
Debt
Demographics
Have made it a world of have's and have not's
This is why if you're not going to finish high school or go to college you better get a good skill set degree your dollar doesn't go as much as it used too
The elephant in the room is how much the increase in the money supply has boosted the income of the top 5%. While at the same time retarding a real recovery in the Main St economy.
No matter what the lower wage jobs are going to go offshore. But investment instead of speculation makes a difference in this flow.
IOW the bubble has to deflated, the FOMC would prefer this be through inflation but like in Japan that ain't happening.
Another factor in the unemployment of the non-college types is that the illegals are subsidized by the State of Calif giving them a competitive advantage.
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There is a group of us in the financial world that are pushing for a September Rate Hike as the U.S economy is the best domestic economy in the world for a mature country.
Here is one take for a September Rate Hike
http://csen.tumblr.com/post/128401644554/my-case-for-a-september-rate-hike