The Economics of Despair
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Title: The Economics of Despair

Essay Details:

Subject: Miscellaneous
Author: Andrea W
Date: September 23, 2014
Level: University
Grade: B
Length: 3 / 685

Essay text:

Raising young adult wages will require not only better academic performance, training, apprenticeships, and school-to-work programs, but also full-employment policies, changes in the configuration of jobs and careers, and larger young adult union membership. Prior to 1973, the annual and weekly earnings of both young adults and older workers had been improving markedly. Between 1967 (the year the Bureau of Labor Statistics began tracking weekly earnings of wage and salary workers) and 1973, the real median weekly earnings of 16- to 24-year-olds rose by approx i mately 8 percent. Since 1973, however, the earnings of young adults have fallen almost continuously...

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