The Shrinking American Middle Class
The Social and Cultural Implications of Growing Inequality
Business & Finance, Management & Leadership, Production & Operations Management, Economics, International Economics
| Author: | Joseph Dillon Davey | ISBN: | 9781137295071 |
| Publisher: | Palgrave Macmillan US | Publication: | September 14, 2012 |
| Imprint: | Palgrave Macmillan | Language: | English |
| Author: | Joseph Dillon Davey |
| ISBN: | 9781137295071 |
| Publisher: | Palgrave Macmillan US |
| Publication: | September 14, 2012 |
| Imprint: | Palgrave Macmillan |
| Language: | English |
The United States lost one third of its factory jobs in the past decade as jobs were outsourced offshore, mostly to Asia. Jobs that require a college degree are next to go. China will award six times as many degrees this year as they did ten years ago and any job that can be digitized will be 'tradable'. Estimates of the number of vulnerable jobs range from a low 11 million to a staggering 56 million 'middle class' jobs. The median United States household income has already dropped by seven percent since 2000 and without dramatic changes in the American workforce that trend will become a disaster for middle class Americans.
The United States lost one third of its factory jobs in the past decade as jobs were outsourced offshore, mostly to Asia. Jobs that require a college degree are next to go. China will award six times as many degrees this year as they did ten years ago and any job that can be digitized will be 'tradable'. Estimates of the number of vulnerable jobs range from a low 11 million to a staggering 56 million 'middle class' jobs. The median United States household income has already dropped by seven percent since 2000 and without dramatic changes in the American workforce that trend will become a disaster for middle class Americans.
