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re: Millennials earn 20% less than baby boomers did—despite being better educated
Posted on 11/7/19 at 11:32 am to JohnnyKilroy
Posted on 11/7/19 at 11:32 am to JohnnyKilroy
I haven’t read the thread, but I’m guessing they used statistical sleight of hands to get the 20% poorer figure
It makes no sense that employers can lower wages for young workers while they mysteriously didn’t lower pay for younger people decades ago.
In market economies, pay is determined by the marginal value of the product you produce.
If an employer underpays a worker, he will obtain profit which attracts another employer to bid away that worker by offering a higher wage.,
That’s Econ 101
Millenials are not earning less. They are having to face higher costs for key things like housing and education. Big difference
Profit as percent of total economy isn’t higher than it was decades ago
It makes no sense that employers can lower wages for young workers while they mysteriously didn’t lower pay for younger people decades ago.
In market economies, pay is determined by the marginal value of the product you produce.
If an employer underpays a worker, he will obtain profit which attracts another employer to bid away that worker by offering a higher wage.,
That’s Econ 101
Millenials are not earning less. They are having to face higher costs for key things like housing and education. Big difference
Profit as percent of total economy isn’t higher than it was decades ago
2
Posted on 11/7/19 at 11:32 am to EarlyCuyler3
quote:False.
Shitty food is cheaper.
Not just false, but a flatout lie.
It is EASIER, not cheaper.
Posted on 11/7/19 at 11:32 am to jclem11
quote:
Look dude for the millionth time, no millennials are arguing that people do not have some responsibility for the situations people find themselves in.
I can quite literally find evidence to the contrary in about 4 minutes of browsing Reddit or Twitter
Posted on 11/7/19 at 11:32 am to jclem11
quote:
We are simply pointing out the structural problems such as rising college costs
Don't go to college if you can't afford it.
quote:
medical costs
I'll give you this one.
quote:
and housing costs
Live where you can afford the housing costs. The majority of this country still has very affordable housing.
Posted on 11/7/19 at 11:33 am to Centinel
quote:American expected lifespan is declining
Because you live longer and your kids die less?
But this thread isn’t about that at all. The goalposts keep moving
Posted on 11/7/19 at 11:33 am to Centinel
quote:
Because you live longer and your kids die less?
And you think that this helps when your earnings are 20% lower than in the past? You're going to have to explain that magic math to me.
Posted on 11/7/19 at 11:33 am to GreatLakesTiger24
quote:
American expected lifespan is declining
From recent peaks, you mean
Posted on 11/7/19 at 11:35 am to GreatLakesTiger24
isn't that because of the rising rates of suicide dude?
Posted on 11/7/19 at 11:35 am to Centinel
quote:Kind of a fricked up situation.
Don't go to college if you can't afford it.
Unavoidable now.
Entry level jobs that shouldn’t even require a college degree, now require one at minimum.
It is a self-fulfilling prophecy.
quote:One of the dumbest complaints of the millennial generation.
Live where you can afford the housing costs. The majority of this country still has very affordable housing.
If you can’t afford to live in LA, NY, or SF, don’t live there.
This post was edited on 11/7/19 at 11:37 am
Posted on 11/7/19 at 11:36 am to GreatLakesTiger24
quote:
American expected lifespan is declining
Obesity has that affect. But now we're back to life choices aren't we?
quote:
But this thread isn’t about that at all.
This thread is about nothing but "woe is me."
Posted on 11/7/19 at 11:37 am to Scruffy
quote:
One of the dumbest complaints of the millennial generation.
If you can’t afford to live in LA, NY, or SF, don’t live there.
Another self-fulfilling prophecy though.
There isn't a demand for talented baristas in Topeka, nor for cultural affairs outreach professionals, etc.
Posted on 11/7/19 at 11:37 am to Scruffy
quote:
Kinda a fricked up situation.
Unavoidable now.
Only if you're unwilling to learn a skilled trade. But here I'll step back a bit, and say our society has stigmatized skilled labor for so long that you're almost a social outcast if you decide to pursue one.
"Oh johnny, you better get your grades up or you'll never get in to college and then you'll have to be.....*gasp*.....an electrican!!"
Posted on 11/7/19 at 11:38 am to Centinel
stupid post
This isn’t about an individual person’s decision making process. It’s about the a generation as a whole. Just because there’s cheap housing In BFE doesn’t mean higher housing prices in major metros is a meaningless anecdote.
This isn’t about an individual person’s decision making process. It’s about the a generation as a whole. Just because there’s cheap housing In BFE doesn’t mean higher housing prices in major metros is a meaningless anecdote.
Posted on 11/7/19 at 11:38 am to HailHailtoMichigan!
quote:
In market economies, pay is determined by the marginal value of the product you produce.
So why has productivity/output skyrocketed since the mid 70s, while wages have seen marginal gains?
It's a fact that the average worker produces significantly more than they did back in the day.
quote:
Profit as percent of total economy isn’t higher than it was decades ago
This is a straight up lie dude
Posted on 11/7/19 at 11:39 am to Pettifogger
quote:
I can quite literally find evidence to the contrary in about 4 minutes of browsing Reddit or Twitter
I was referring to this thread not the dumpster fire that is Reddit and Twitter.
Posted on 11/7/19 at 11:39 am to EarlyCuyler3
quote:
And you think that this helps when your earnings are 20% lower than in the past? You're going to have to explain that magic math to me.
Your take home pay is "20%" lower. You more than likely have healthcare coverage, which is the how our country has chosen to divy up healthcare expenses. Your benefits just make up more of your compensation than ever before. That is the fault of the federal government WAAAAAY prior to the boomers.
Posted on 11/7/19 at 11:39 am to Mr Perfect
Probably. I’d have to image obesity is a big factor
I was just being a dick
I was just being a dick
Posted on 11/7/19 at 11:40 am to Centinel
quote:Not even the issue.
Only if you're unwilling to learn a skilled trade
As others have pointed out earlier in the thread, non-skilled trade jobs that don’t require college degrees are now demanding them.
Also, if everyone shifts to trade jobs, the glut would cause a depression within the fields anyway, thus making the point moot.
This post was edited on 11/7/19 at 11:42 am
Posted on 11/7/19 at 11:40 am to Centinel
quote:there has been very little of that
This thread is about nothing but "woe is me."
Posted on 11/7/19 at 11:40 am to Centinel
The people in this thread citing medical costs, housing costs, and education costs have a point, but are ignoring a fundamental fact
Millennial voters largely favor policies that DO NOT actually lower the cost of these three things. Instead, they favor policies that merely shift the cost from themselves to the government.
Politicians and pundits who actually talk about ways to reduce costs are ignored as being capitalist and right wing pigs.
There are ways to lower housing costs, ways to reduce heath spending, ways to control cost of tution.
What millennial want is to ignore the cost issue and just shift cost as is to govt
Millennial voters largely favor policies that DO NOT actually lower the cost of these three things. Instead, they favor policies that merely shift the cost from themselves to the government.
Politicians and pundits who actually talk about ways to reduce costs are ignored as being capitalist and right wing pigs.
There are ways to lower housing costs, ways to reduce heath spending, ways to control cost of tution.
What millennial want is to ignore the cost issue and just shift cost as is to govt
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