Monday, January 27, 2014
dy Debunks Classic Argument About Low-Wage Workers
http://www.huffingtonpost.com/2014/01/24/low-wage-workers-education_n_4653020.html Due 3 February 2014. What does the graph show us about education and low-wage jobs? Evaluate the graph using cost-benefit analysis---does it pay to get an education? What are the back end costs of NOT getting an education??
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The graph is basically telling us that having a source of income is so desirable that people with college degrees are now working almost 50% of the low wage jobs, and people with highschool educations are working 79% of the jobs. This is a huge increase that has happened in the last 40 years, low wage jobs don't mean that the people are low wage workers anymore.
ReplyDeleteIt depends on your circumstances if it is worth it to get an education anymore. If you decide you want to become a doctor and you pay 500,000$ in tuition fees, just to graduate and end up making $7.79 /hr for the next 20 year it sees like a colossal waste of money.
On the other hand if you get a business major and pay 60K in fees and you decide to take over your family business and have an income of 200K a year it is definently worth getting the education.
IF YOU CAN AFFORD IT AND DO NOT HAVE PROBLEMS PAYING IT GET IT.
The back end costs of not getting an education is if you compete for a low wage job, the person with better qualifications gets the job 99.99% of the time. the other .01% is if the employer hires his good friend.
The graph shows us that the relationship between the education that a low wage worker has is not exactly on point with the amount they are being paid. In this graph, it shows the number of people who has either a college education or at least a high school diploma. Back in 1968, only 17% of the population had any college experience and 48% actually graduated from high school or its equivalence. And in 2012, 46% of the population had some kind of college experience and almost 80% has graduated from high school. I believe that when it comes to "if its worth it to get an education," you have to look at what jobs are being demanded and how many people are actually able to get that job. Some back end costs of not getting an education is a lower chance of getting any kind of job since if two people of different education background are applying for the same job due to circumstances such as this, then the employer will always hire the one with a better background.
ReplyDeleteThe graph shows that increasingly over the years, the more education one receives, the less they are making in income.
ReplyDelete"Smarten up, get new skills, and the jobs and higher wages will come, while the cares and worries of globalization, offshoring and outsourcing will just wash away. It's also an argument against raising the minimum wage -- if workers were worth more, by being smarter, then the Invisible Hand would pay them more."
The article uses this statement to present a false reality that many people have come to accept.
The graph shows us that it does not truly pay to get an education when one will be earning the same or little more than a low-skilled worker. It no longer pays to receive a thorough education.
The back-end costs of not getting an education are that the entire United States as whole, if this issue continues, will have no incentive to work harder and fuel our capitalist economy.
We need young people to get educated in order to take the places of those who are educated currently. With the American population less educated as a whole, our country will be heading backwards and reversing many things our forefathers worked so hard to achieve.
-Anita Pizzirani (Pizza)
Period: 1
The graph illustrates the difference in significance of an education from the 1960s as compared to today. Although the percentage of educated low-wage workers has increased by over 50% in the last 46 years, the federal minimum wage has ironically decreased by 23%. This shows that a higher and more established education means nothing more than a diploma if there are not enough jobs out there for the educated. Due to the shortage of more advanced jobs, those who paid to go further in life are stuck with minimum-wage jobs. The benefit of having a higher education is that, if one is applying for the same job as someone who does not have a high school diploma or college experience, then the educated applicant will have more of a chance of getting the job. However, although having a higher education will guarantee a higher chance of making a living, the stability and value of the job may not be as profitable, when compared to the cost of the college experience title. Overall, it would be wiser to acquire a higher education, but one must be prepared for the worst of the real world.
ReplyDeleteThe graph shows that over the past 46 years, higher education workers haven't been making much better money than those with only high school diplomas. The graph basically says that income and education aren't as strongly correlated as they once were. The amount of people graduating high school and those going to college has drastically increased from 1968. There are more low-wage workers than ever, yet the federal minimum wage has decreased 23%. There is more competition for jobs than in 1968 which has resulted in highly educated and skilled workers having to settle for "McJobs." Although not clear in the graph, I believe it is still worth it to get a college education. Despite the harsh numbers on this graph, workers with college degrees still make more in their life time, even when you factor in costs, both opportunity and financial, of getting a college education. Costs of not getting an education far outweigh the $100,000 it will cost to go to a decent school. As the graph shows, college degrees still get jobs, good or not, and when lined up with people with GED's, employers will always select the most educated.
ReplyDeleteThe graph is showing how individuals with college experience are making less money than the individuals with just a high school diploma. Based on what the graph shows us, it really does not pay to get a higher education than a high school diploma. The back end costs of not getting an education, if this continues, would be that there will be a lack of incentive for people to work hard. The jump from 1968 to 2012 in the graph is a big change upward for the people with only a high school diploma. If this continues to happen, the United States economy will be in an even worse situation as the amount of educated people start to decrease.
ReplyDeleteThe graph basically illustrates how over time, lower wage workers have become more educated and even though they are more educated, they are being paid less. (Imagine being paid less than someone who is less educated than you.) The problem is just that, people that are more educated cannot find any other jobs and are forced to settle for lower wage jobs. Therefore, I company would hire one educated person over three uneducated people and pay a lower wage. Overall it does pay to get an education. When you look at it, you always have a job. I mean it might not pay as much as you want, but an employer will hire you over someone who is less educated. The only problem is that you may not get paid enough to live a stress-free life and support your family.
ReplyDeleteWe can tell from the graph that low-wage workers are a lot more educated than they were nearly 50 years ago, but they are making much less, according to a new study by the Economic Policy Institute, a left-leaning think tank. When workers are better-educated and more productive, they can produce more in fewer hours. That has helped boost corporate profits to record highs, while wages have stagnated.
ReplyDeleteThe graph shows us the unthinkable, "getting a college education, and going no where." It's illustrating how over time, lower wage workers are in fact becoming more educated, but the desire to work , and make money has them occupying lower wage jobs, equating to lesser pay. Now it of course does pay to have an education, because as some say, knowledge is power, which is true, but in some cases does not equate to a plethora of money.
ReplyDeleteWhat the graph shows is that people who are working low-wage jobs right now have a better education than people working low wage jobs did in the 60s. I want to begin my analysis of the graph with a disclaimer: education is worth far less now than it was worth in the 60s (and don't let the cost of a degree convince you otherwise). More people have a degree, and that means that a degree does not offer the same competitive edge it did in the past. Now, a degree has become more of a necessity than an edge. It seems as though there are a lot of economists (or pseudo-economists) assuming that these numbers imply that a degree is less important now. Don't confuse my remark about it being worth less, a college degree has paradoxically become a qualification that is more valuable to the person consuming the degree, but less valuable to the firm looking to hire college-educated employees. A degree has become necessary to compete on the market, but insufficient to guarantee a job. A college degree is definitely net beneficial to a consumer, but a consumer should not feel entitled to a job after they receive their degree. There is a gamble to getting a degree, especially in common fields where competition is high. However, the backend costs of not getting a degree heavily outweigh the costs of a degree itself. Refusing to get a degree puts a potential employee at the bottom of the pool, they aren't even competitive with most low-wage workers. There is no way a person could survive without a college degree in the current market. Degrees are the new diploma's, you need one to get a job, but getting one doesn't you'll have a job. The market has far too much competition for every college graduate to find employment in their field of study.
ReplyDeleteThe graph shows that over the past 46 years, higher education workers haven't been making much better money than those with only high school diplomas. The graph basically says that income and education aren't as strongly correlated as they once were. The amount of people graduating high school and those going to college has drastically increased from 1968. This shows that a higher and more established education means nothing more than a diploma if there are not enough jobs out there for the educated. Due to the shortage of more advanced jobs, those who paid to go further in life are stuck with minimum-wage jobs. The benefit of having a higher education is that, if one is applying for the same job as someone who does not have a high school diploma or college experience, then the educated applicant will have more of a chance of getting the job. The back-end costs of not getting an education are that the entire United States as whole, if this issue continues, will have no incentive to work harder and fuel our capitalist economy.
ReplyDeleteWe need young people to get educated in order to take the places of those who are educated currently. With the American population less educated as a whole, our country will be heading backwards and reversing many things our forefathers worked so hard to achieve.
The infograph in the article shows that today many low wage workers have a solid education but aren't earning what they should be. Decades ago, most low wage workers didn't have a college education but these days low wage drones with a college education are becoming more abundant. It appears that spending time getting higher education and entering the workforce with a degree is becoming less worthwhile. Not getting a degree, however, may make an individual seem less useful in the eyes of an employer. Smarter employees mean more production.
ReplyDeleteWhen we look at the graph, nowadays, many low wage jobs are being worked by people college educations. They don't necessarily want to work these jobs but that is what is most readily available at the moment. When it comes down to it, it doesn't pay to get a college education. But, some backend costs of not getting a higher education would be that the person who did get the higher education that is going for the same job as you, they would most likely get it. So, this makes it harder for uneducated people to get even low wage jobs.
ReplyDeleteThe graphic shows us that in 2012 we have made a twenty nine percent increase in college experience than in 1968, and a thirty one percent increase in high school diplomas and GEDs. It shows us that the same low wage workers are more educated than in 1968, obviously. But the article argues that an education doesn’t always equal better pay. We see this today, people fresh out of college have little to no open job opportunities, so they settle for a low wage job. Personally, I think it depends on what you want to do in terms of it paying to get an education. If you need it, then go for it. But it doesn’t always pay to get an education. Without an education it would definitely be harder to get hired. Even small joints require a college degree. So, without an education you are limiting your options.
ReplyDeleteThis week's article startlingly gives the cold hard truth about the value of a college education. As seen in the graph, tons of low wage job positions are being filled by college educated students. It certainly isn't by choice, no reasonable person goes to college in order to flip burgers or work in retail. It is, unfortunately, the only jobs readily available to college grads, and so they take what they can get. The numbers give the impression that it just doesn't pay off to spend four or more years earning a degree in order to work a low wage job. However, the backend costs enforce the "You Must Go To College" atmosphere students experience everyday because even if it is only low wage jobs they are competing for, college educated students will win out over a person who only has a high school degree hands down. On that note, if the brightest of America are flipping hamburger meat on a greasy grill, what on earth are the uneducated to do?
ReplyDeleteI love that last sentence! Very insightful
DeleteThis graph embodies what is well-known knowledge about millenials: this generation is over-educated and under-employed. The graph shows that in comparison to 1968, low-wage workers have become increasingly educated, with more acquiring GEDs/diplomas and even college experience. It would appear that the price of education is not worthwhile for these people, as they end up working jobs they could have earned without an education. To me, it would appear that this is not the case. Why would being educated not be a worthwhile investment? These people are still citizens of the world, are they not? They are still voting and affecting the rest of their communities, states, this country, and the rest of the world, even if indirectly. It is imperative to have a civilization of literate and informed individuals. That is exactly why everyone pays taxes for education--even those who choose a more specialized education at private schools.
ReplyDeleteI don't feel as though this graph is a good graph to go by. It's not even labeled. Is it 50% of low wage workers have college experience or 50% of people with college experience work a low wage job? In this day and age a high school diploma and GED don't mean anything. If someone was a college drop out and not Steve Jobs it'd be surprising if they didn't have a low wage job but those people are being counted. Also, if you major in philosophy what exactly were you expecting? Back in the day it wasn't as common for people to go to college. Now a days it's voodoo to not go to college and there are only so many jobs available for the people overqualified to flip burgers. I do think the minimum wage should be raised to $8.00 but no more. If the minimum wage is to be increased to a livable wage it needs to be done slowly so that the people currently making $15 dollars an hour don't suddenly making the same amount of money as a high school grocery bagger. Wether it pays to get an education depends on who you are and what your fortune is. If you are born into a rich family then it doesn't pay because you just live off of their inheritance. If you win the lottery at 18, you might want to invest your money on something that isn't college. It all depends on circumstance. If you can make more money by not going to college than the money that you would spend on going to college, it might be worth it to drop out and not work that high paid job after college. But I think a college education is worth it with the right major choice and the right work ethic.
ReplyDeleteThe graph shows that increasingly over the years, the more education one receives, the less they are making in income. the percentage of educated low-wage workers has increased by over 50% in the last 46 years, the federal minimum wage has ironically decreased by 23%. This shows that a higher and more established education means nothing more than a diploma if there are not enough jobs out there for the educated. The jump from 1968 to 2012 in the graph is a big change upward for the people with only a high school diploma. If this continues to happen, the United States economy will be in an even worse situation as the amount of educated people start to decrease. The benefit of having a higher education is that, if one is applying for the same job as someone who does not have a high school diploma or college experience, then the educated applicant will have more of a chance of getting the job. The back-end costs of not getting an education are that the entire United States as whole, if this issue continues, will have no incentive to work harder and fuel our capitalist economy.
ReplyDeleteThis graph shows us that nowadays, low-wage jobs are made up of a much higher percentage of people with a college education than before. The number rose from 17 percent in 1986 to 46 percent in 2012 and the percentage of low wage workers with a high school diploma rose from 48 to 79. Unfortunately, the federal minimum wage has also decreased. The truth is, since more and more people have degrees now, education doesn’t set people apart when competing for jobs anymore the way it used to. Even though costs of attending college are insane compared to the 60s, many candidates competing for the same job have a degree, which doesn’t make it the deciding factor in saying who gets the job unless one is competing with someone who doesn’t have a degree at all. Even if more low-wage workers have a college education but don’t score the big time jobs, an education is still necessary, actually more necessary than ever before. If this many people have low wage jobs by having gone to college, imagine how many people would have low wage jobs if they didn’t have any college experience at all. It takes away any competitive advantage at all. A degree may not necessarily mean a job or a high paying one but the only way to have a chance is to have an education. The back end costs of getting an education are pretty high and definitely outweigh the cost of pursuing a degree. Not paying the few years of college sets someone back forever when it comes to finding a decent job in a country where people who are educated aren’t even getting jobs. A high school diploma used to be what was the minimum. Now it’s a degree. In the future, it may be a higher degree. Saving on education isn’t a real thing because ultimately one loses more in the money they don’t make without a degree.
ReplyDeleteThis graph compares the percentage of low-wage workers from two years, 1968 and 2012. For each year, it looks at what percentage of the total had a high school education or a college education. From 1968 to 2012, the percentage of low-wage workers with a high school diploma went from 48% to 79% and a college education from 17% to 46%. The number of educated students with a diploma or college education is increasing, but the number of students getting higher paying jobs is decreasing. These increasing numbers support the data that the number of advanced jobs are limited, so in return educated people are stuck working minimum-wage jobs.
ReplyDeleteThis issue raises the question as to if a college education is truly worth it. It all relates back to the economics of the work force. The demand of higher paying jobs is more than is supplied, creating a surplus of workers. If you were to get a minimum-wage job, than it truly wouldn't pay to get a college education. You would be in debt for years and unable to ever pay it off with only a $8.00 hourly wage. The back end costs of not getting an education is that Americans will not have an incentive to work harder. It will cause our population as a whole to be less educated which will stem a whole string of consequences that will push us in the wrong direction.
The American government has once again royally screwed itself, its citizens, and its country over.
ReplyDeleteThe graph opens our eyes to the sad, unfortunate truth. Over the last 46 years, workers with higher education haven’t been bringing home that much more money than those with only high school diplomas. This suggests that income and education aren't as strongly correlated as they once were.
I have been brought up in a community, which prides itself on education. Since 1968, high school graduation and college enrollment rates have drastically increased. All my life I’ve been told that earning a degree gives me the chance for a variety of opportunities, which I myself may choose from; meaning better jobs, larger incomes, a nicer life, and the chance to become a successful individual. However, this study basically proves that idea a higher and more established education means a better life, is in fact untrue if there are not enough jobs for the educated.
So the question is…what’s the point of going to school, risking thousands in student loans, and working our tails off if it isn’t going to benefit us in the long run (even if in the long run we are all dead.)?
The idea that getting a degree has barely any effect on one’s success is a huge threat, not only to America’s economy but also to the capitalist system as a whole.
If such an issue continues, all of America will have he same thoughts as myself…what’s the point? This means there will be no incentive for any of us to work hard and feed our capitalist economy. Education is a fundamental building block of our country. Our forefathers believed in the importance of education and in fact based out country off of the ideas of other men who thought highly of education. If we decide that education has no benefit, America will fall apart, collapsing on itself and taking other countries who depend on us with it.
The graph basically illustrates that people who have 4 years college degree are having to downgrade to lower, minimum wage wage jobs. This is a scary number because isn’t getting a degree suppose to get you a better, higher quality job than someone who just has a degree from high school. I think it does. Based on the graph some would say it does not pay to get an education if you are just going to end up getting a minimum wage job. Me on the other hand is going into a field where there isn’t a great supply of workers, like veterinary science. Another good industry would be is the medical field or something to do with law because these industries are always growing and you are more likely to get a job if you get a college degree. Some back end costs of not getting an education is a lower chance of getting any kind of job. This would be relevant if you are being compared to another person, but lets say they have a college degree. This person would of course get the job because they are more qualified. This graph basically gives Americans no incentives to work hard for a college degree because we will just be getting a minimum wage job that would not benefit us at all if we will be paying for college for the next 40 years.
ReplyDelete