One trend that started in the early 2000’s and has accelerated is the lack of middle wage jobs. Most of the jobs created in the past decade have been retail low wages positions that don’t allow workers to save money. Lack of middle position jobs prevent upward mobility. This was feature of the US Post WWII economic boom and the 80’s/90’s boom.
What is causing this? A number of factors have led to the destruction of middle wage jobs. However we are at a point that complaining about it will not solve anything. Real solutions are needed to reverse this economic deterioration. Tax and regulatory reform need to be the key to all this. We are operating with a 20th century economic model in a 21st century globalized economy. This can’t continue or America will end up like Argentina. A once great economic power is now a hell hole.
America is starting to resemble a 3rd World style economy. Either highly specialized jobs or low wage jobs. We have a hourglass economic structure. This is not the American dream, it is an economic nightmare!
Tags: Economic News, Jobs, Middle Class
