The Education And Employment Myth: Almost Two-Thirds Of People In The Labor Force Do Not Have A College Degree

Source: MyBudget360.com
April 10, 2016

There is an ongoing perception that most of the workforce has a college degree.  When we say college degree we mean at a minimum a bachelor’s degree.  You would think that with $1.3 trillion in student debt outstanding a good portion of the work force would be college educated.  The opposite is the truth however.  Almost two-thirds of the workforce does not have a college degree.  That might be surprising to you especially for a country that pushes nearly everyone into college.  Yet this blind pushing of people into college has created problems for those choosing careers and paths that simply lead into more debt and very little marketable skills.  It is also a case where the younger workforce is more educated but also more indebted.  They are paying more for their education and their incomes are simply showing paltry gains.  This is why talks of the minimum wage are actually bigger than you think.  Many people are what we would consider “working poor” even though the media fails to acknowledge real inflation that is hurting the standard of living.  So how does this look on a nationwide scale?

No college for workers

I think the figures are rather surprising for many here:

“(EPI) Almost two-thirds of people in the labor force (65.1 percent) do not have a college degree. In fact, people without a college degree (which includes those without a high school degree, with a high school degree, some college education, and an associates’ degrees) make up the majority of the labor force in every state but the District of Columbia. Mississippi has the highest share of non-college educated workers (75.7 percent) while Massachusetts and the District of Columbia have the lowest shares (51 percent and 33.7 percent, respectively).”

Of course the distribution isn’t evenly distributed across the country:

labor force and college degrees

I believe the above is a big reason why so many Americans living in affluent metro areas are completely removed from the economic plight of most Americans.  Some are pushed into states with much lower standards of living and the dialogue is simply nonexistent with wealthier areas.  The media unfortunately caters to the elite markets and simply ignores the large masses of people that are getting by.  We have nearly 94 million adult Americans that are not in the labor force.  Think about that.  Nearly one-third of our adult population isn’t generating income.

Continue Reading At: MyBudget360.com

THE BOOMER RETIREMENT MEME IS A BIG LIE

Source: TheBurningPlatform
Jim Quinn
April 4, 2016

As the labor participation rate and employment to population ratio linger near three decade lows, the mouthpieces for the establishment continue to perpetuate the Big Lie this is solely due to the retirement of Boomers. It’s their storyline and they’ll stick to it, no matter what the facts show to be the truth. Even CNBC lackeys, government apparatchiks, and Ivy League educated Keynesian economists should be able to admit that people between the ages of 25 and 54 should be working, unless they are home raising children.

In the year 2000, at the height of the first Federal Reserve induced bubble, there were 120 million Americans between the ages of 25 and 54, with 78 million of them employed full-time. That equated to a 65% full-time employment rate. By the height of the second Federal Reserve induced bubble, there were 80 million full-time employed 25 to 54 year olds out of 126 million, a 63.5% employment rate. The full-time employment rate bottomed at 57% in 2010, and still lingers below 62% as we are at the height of a third Federal Reserve induced bubble.

ScreenHunter_55 Apr. 05 07.52.jpg

Chart via econimica

Over the last 16 years the percentage of 25 to 54 full-time employed Americans has fallen from 65% to 62%. I guess people are retiring much younger, if you believe the MSM storyline. Over this same time period the total full-time employment to population ratio has fallen from 53% to 48.8%. The overall labor participation rate peaked in 2000 at 67.1% and stayed steady between 66% and 67% for the next eight years. But this disguised the ongoing decline in the participation rate of men.

In 1970, the labor participation rate of all men was 80%, while the participation rate of women was just below 43%. Then Nixon closed the gold window, setting in motion a further debasing of the currency, unleashing politicians to promise voters goodies without consequences, and giving Wall Street bankers and Madison Avenue free rein to use propaganda to bury Americans in debt, while convincing them trinkets and baubles were actually wealth.

Continue Reading At: TheBurningPlatform.com