Ryusei the Morning Star Posted January 23, 2017 Report Share Posted January 23, 2017 http://www.csmonitor.com/Business/2017/0113/Study-Millennials-really-are-making-less-than-their-parents-did Despite parents' hopes for better futures for their children, Millennial children are struggling to make ends meet with 20 percent less income than their parents had at the same age. Link to comment Share on other sites More sharing options...
ENMaker Posted January 23, 2017 Report Share Posted January 23, 2017 hint hint Link to comment Share on other sites More sharing options...
(GigaDrillBreaker) Posted January 23, 2017 Report Share Posted January 23, 2017 Didn't everyone already know this? The job market and economy is nothing compared to the post-WWII hysteria that gave baby boomers the success (and inaccurate vision of the world) they had. Link to comment Share on other sites More sharing options...
Ryusei the Morning Star Posted January 23, 2017 Author Report Share Posted January 23, 2017 Didn't everyone already know this? The job market and economy is nothing compared to the post-WWII hysteria that gave baby boomers the success (and inaccurate vision of the world) they had.Making less than Gen X too, and money supply has gone up and is worth less. We're making less of less powerful money. You'd think w/ inflation we'd be doing better. We're not Link to comment Share on other sites More sharing options...
Wahrheit Posted January 23, 2017 Report Share Posted January 23, 2017 Making less than Gen X too, and money supply has gone up and is worth less. We're making less of less powerful money. You'd think w/ inflation we'd be doing better. We're notThe labor supply has changed and so has the nature of labor. Gig economy, etc. Plus, wages haven't risen with productivity, arguably due to the phasing out of unions. Link to comment Share on other sites More sharing options...
Ryusei the Morning Star Posted January 23, 2017 Author Report Share Posted January 23, 2017 The labor supply has changed and so has the nature of labor. Gig economy, etc. Plus, wages haven't risen with productivity, arguably due to the phasing out of unions.This part is common sense though, automation is more productive that labor. Additionally, strength of a union has a inverse relationship with effective productivity of labor. This might be covered in the first part of your statement however Millenials are about in equal number to Boomers right, total labor supply shouldn't be out of synch that much with job growth. Automation and one sided trade deals are most of what's killing us Link to comment Share on other sites More sharing options...
Wahrheit Posted January 23, 2017 Report Share Posted January 23, 2017 This part is common sense though, automation is more productive that labor. Additionally, strength of a union has a inverse relationship with effective productivity of labor. This might be covered in the first part of your statement however Millenials are about in equal number to Boomers right, total labor supply shouldn't be out of synch that much with job growth. Automation and one sided trade deals are most of what's killing usAutomation is a large part, but millenials are also working longer hours and taking fewer vacations, so the labor supply really is going up. Wage stagnation / decreases really are in line with the economic theory. Link to comment Share on other sites More sharing options...
Ryusei the Morning Star Posted January 23, 2017 Author Report Share Posted January 23, 2017 Automation is a large part, but millenials are also working longer hours and taking fewer vacations, so the labor supply really is going up. Wage stagnation / decreases really are in line with the economic theory.Hey, an easy way to to economically justify a wage increase would to be lower marginal cost! Funny enough lowering regulations would lower marginal cost! Funny how things like that work out! Link to comment Share on other sites More sharing options...
(GigaDrillBreaker) Posted January 23, 2017 Report Share Posted January 23, 2017 I think availability of education is also a large factor, preventing many millennials from acquiring non-sheet jobs, especially considering the stress placed upon education on a resume in this day and age. Link to comment Share on other sites More sharing options...
Wahrheit Posted January 23, 2017 Report Share Posted January 23, 2017 Hey, an easy way to to economically justify a wage increase would to be lower marginal cost! Funny enough lowering regulations would lower marginal cost! Funny how things like that work out!You know why this is a bad economic argument, right? Link to comment Share on other sites More sharing options...
Aerion Brightflame Posted January 23, 2017 Report Share Posted January 23, 2017 Also one cannot forget the fact that a large chunk of millenials first entered the workforce at the Height of the 2007 crash and associated recessions. It meant that companies could and would offer lower wages for jobs that meant even after the economy evened out a little people would still be in places that were paying less than they really should. Since back then you'd take essentially any livable wage for a job, which meant companies could offer lower and lower wages. There's a lot of contributing factors. I'll throw wealth inequality in there as well; the majorty of wealth gains in most nations has been highly concentrated, which means despite some periods of massive growth, the average person hasn't seen much of it relative to increase costs. Link to comment Share on other sites More sharing options...
Ryusei the Morning Star Posted January 23, 2017 Author Report Share Posted January 23, 2017 You know why this is a bad economic argument, right?It's a bad economic argument if you don't force the companies to move the wealth to the workers. It's a fine economic argument if you lower regulations and raise the minimum wage concurrently. Link to comment Share on other sites More sharing options...
Wahrheit Posted January 23, 2017 Report Share Posted January 23, 2017 It's a bad economic argument if you don't force the companies to move the wealth to the workers. It's a fine economic argument if you lower regulations and raise the minimum wage concurrently. Come on. You know there's more to this. Here, we'll do this the law school way. "Of course, deregulation could also cause problems, because..." Link to comment Share on other sites More sharing options...
Tentacruel Posted January 24, 2017 Report Share Posted January 24, 2017 Because our parents ruined the economy. Link to comment Share on other sites More sharing options...
Ryusei the Morning Star Posted January 24, 2017 Author Report Share Posted January 24, 2017 Come on. You know there's more to this. Here, we'll do this the law school way. "Of course, deregulation could also cause problems, because..."Muh lead in products? Link to comment Share on other sites More sharing options...
Wahrheit Posted January 24, 2017 Report Share Posted January 24, 2017 Muh lead in products?Give it a serious effort. There are good reasons why it's worth being wary of deregulation. Link to comment Share on other sites More sharing options...
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