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Started By
Message
re: Millennials earn 20% less than baby boomers did—despite being better educated
Posted on 11/6/19 at 6:59 am to Scruffy
Posted on 11/6/19 at 6:59 am to Scruffy
quote:
Entry level jobs are requesting or requiring insane degrees or insane prior job history.
An entry level job shouldn’t require a masters degree or require multiple yeas of previous job history.
That kinda defeats the purpose of being “entry level”.
and there are 2 reasons for this (neither are the fault of millenials and primarily are on the shoulders of boomers)
1. boomers refuse to retire, which is causing economic slack in terms of promotion and opportunity. this isn't because millenials aren't qualified or anything, b/c it would be older generations (x, primarily) who would go to the top. also, this is because boomers, who were given everything without much effort, are in financial ruin and can't stop working.
2. the proliferation of degrees. this was a process that occurred over time and really started ramping up in the 70s and 80s. the boomers (due to Vietnam) were the first to really push college for normal people, and this belief system carried over the next 30 years as they got power. how do you think companies they control will act in response?
1
Posted on 11/6/19 at 7:00 am to EarlyCuyler3
quote:That is primarily a left-wing talking point, and it is actually completely false. The left keeps parroting it, to create the foundations for a class conflict.
And wages have stagnated. Profits have risen exponentially and wages have been suppressed.
The Story of Stagnating Wages Was a Myth.
Worker wage gains are keeping up with inflation, and then some
This picture is average wages, and is adjusted for inflation. It shows that, even with respect to inflation, wages have steadily climbed every year since 1997.
****Note to Reader: All links provided are to left wing sources. Even the left has come around on this talking point.
Posted on 11/6/19 at 7:01 am to Mr Perfect
quote:
this isn't true dude
yes it is. you can be peanut butter and jelly all you want that boomers had it easier, but if your only effort to stop the boomer cycle is saying "OK boomer" while you push their values (like over-valuing living in cities and over-educating yourself in ways boomers deemed non-economic) then you bear responsibility
Posted on 11/6/19 at 7:02 am to SlowFlowPro
quote:Truth.
yes it is. you can be peanut butter and jelly all you want that boomers had it easier, but if your only effort to stop the boomer cycle is saying "OK boomer" while you push their values (like over-valuing living in cities and over-educating yourself in ways boomers deemed non-economic) then you bear responsibility
Posted on 11/6/19 at 7:03 am to SlowFlowPro
quote:This is a major problem. If everyone with an IQ over 70 can get a degree, how does an employer isolate the best candidate?
2. the proliferation of degrees. this was a process that occurred over time and really started ramping up in the 70s and 80s. the boomers (due to Vietnam) were the first to really push college for normal people, and this belief system carried over the next 30 years as they got power. how do you think companies they control will act in response?
By aiming higher.
4 year degrees are what HS diplomas were in the 60's
Posted on 11/6/19 at 7:04 am to SlowFlowPro
quote:OH
yes it is. you can be peanut butter and jelly all you want that boomers had it easier, but if your only effort to stop the boomer cycle is saying "OK boomer" while you push their values (like over-valuing living in cities and over-educating yourself in ways boomers deemed non-economic) then you bear responsibility
frick
This. . .fricking all this
Posted on 11/6/19 at 7:05 am to Roaad
quote:
That is primarily a left-wing talking point, and it is actually completely false. The left keeps parroting it, to create the foundations for a class conflict.
I think the problem is the rising costs of things like housing and college versus wage growth.
Yes, wages have grown. But when college costs have grown at a rate much high than wage growth, then it becomes an issue. Same with housing.
This post was edited on 11/6/19 at 7:06 am
Posted on 11/6/19 at 7:10 am to hubertcumberdale
Boomers had the advantage of a large blue collar manufacturing economy that was the only developed economy in the world not completely destroyed by WW2. All of Europe and East Asia was decimated and Russia was under communist rule. From 1945 to about the 1970s we were all that existed and “made in America” was stamped on products all over the world. So this is no surprise really. Today’s world is much different with technology doing much of the grunt work in manufacturing and many competing nations with strong manufacturing economies. This leads less opportunity to make a high wage with little education, so more people go to college. This saturates the white collar world and leads to lower wages due to less competition.
Little know fact, you can easily make 6 figures now driving a truck, being a plumber, carpenter, working in a factory, farm manager, electrician,oil and gas, welder, etc because demand is high with few young people willing to do the hard work. Get off your arse and do it
Little know fact, you can easily make 6 figures now driving a truck, being a plumber, carpenter, working in a factory, farm manager, electrician,oil and gas, welder, etc because demand is high with few young people willing to do the hard work. Get off your arse and do it
Posted on 11/6/19 at 7:11 am to deltaland
quote:
you can easily make 6 figures now driving a truck, being a plumber, carpenter, working in a factory, farm manager, electrician,oil and gas, welder
Easily? No.
Posted on 11/6/19 at 7:11 am to Scruffy
let me also be clear, the older millenials or xenials, are the ones who had it worst. these are my people, who were coming to economic fruition JUST as 2008 destroyed everything. i literally graduated from law school in 2008. there wasn't a legal economy until 2011-2012 or so after that. it was GUTTED. younger millenials have had the benefit of a ROARING economy for the past 6-8 years
Posted on 11/6/19 at 7:11 am to GetCocky11
quote:
I think the problem is the rising costs of things like housing and college versus wage growth.
And both of these points have been touched on by SFP. Housing costs rise because more people want to, or in some cases due to their careers, have to live in areas where real estate is in high demand.
Housing is still very, very affordable in most of the country, but job opportunities may not be there like a major city (again, depending on career).
And college costs have risen due to the proliferation of cheap government loans, which in turn has inflated the administration system to obscene levels, which then lets them keep jacking up tuition to cover their costs because they know the gubmint loans will keep on flowing. It's the ultimate self-licking ice cream cone.
This post was edited on 11/6/19 at 7:15 am
Posted on 11/6/19 at 7:13 am to GetCocky11
quote:
Easily? No.
What do you value more? Easy? Or a good income?
Not everyone gets to have both. That's life, and life ain't fair.
Posted on 11/6/19 at 7:13 am to hubertcumberdale
I just fired a millennial and replaced him with a GenXer. Something about showing up to work and not playing on your phone all day.
Posted on 11/6/19 at 7:14 am to Roaad
quote:]
This is a major problem. If everyone with an IQ over 70 can get a degree, how does an employer isolate the best candidate?
By aiming higher.
4 year degrees are what HS diplomas were in the 60's
and the problem with this is that Boomer policies (both private and public) have made degrees absurdly expensive
McNeese is over $8k/year
LINK
that's the commuter, stay at home option for SWLA. 8 fricking grand a year in tuition and fees
Posted on 11/6/19 at 7:14 am to GetCocky11
quote:Mostly a myth.
I think the problem is the rising costs of things like housing
All depends on where you live. Just like it always has.
LINK
Housing costs are a pure supply/demand issue.Everyone wants to live in NY, LA, Miami, etc. so the housing costs in those areas are astronomical.
So much so that it skews the graph.
There are tons of areas where wage growth outpaces mortgage payments.
Posted on 11/6/19 at 7:15 am to GetCocky11
Wages have also hit a brick wall relative to output.
Up until the 80s or so, wages and productivity moved in tandem. Since then, wages have risen modestly, while productivity has gone to Mars.
Up until the 80s or so, wages and productivity moved in tandem. Since then, wages have risen modestly, while productivity has gone to Mars.
Posted on 11/6/19 at 7:15 am to Roaad
quote:
There are tons of areas where wage growth outpaces mortgage payments.
aka, Texas
Posted on 11/6/19 at 7:15 am to Centinel
quote:
quote:
Easily? No.
quote:
What do you value more? Easy? Or a good income?
The poster said easily make 6 figures being a plumber or truck driver. It is not easy. That is a myth.
Posted on 11/6/19 at 7:16 am to SlowFlowPro
quote:Baton Rouge was on the list at #2
aka, Texas
Posted on 11/6/19 at 7:17 am to GetCocky11
quote:
It is not easy. That is a myth.
It's not a myth, and of course it's not easy. It takes a shite ton of hard work, but yes it can most certainly be done.
ETA: I think you and I are on different pages by what we mean by "easy". Easy to me means there are very little external obstacles keeping you from doing something, so from my perspective, yes those skilled jobs can easily make six figures.
This post was edited on 11/6/19 at 7:19 am
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