Back when I was in high school, they lied to us about the bright shiny future of computers, easy work, and high pay. Reality is a little different.
To calculate the index’s value, the researchers split up the jobs created every month into those that pay above average and those that pay below average, and then divide one figure into the other. An index value below 100 means there are more lower-paying jobs relative to higher-paying jobs; a value above 100 means the opposite.
Other entities involved in the creation of the index are the Cornell University Law School, the University of Missouri at Kansas City, the Coalition for a Prosperous America and the Global Institute for Sustainable Prosperity.
This month, the index is just over 80, meaning there are 80 high-paying jobs for every 100 low-paying jobs. That’s a stark drop from 1990, when there were 94 high-paying jobs for every 100 low-paying jobs.
“There aren’t enough ‘good jobs’ to go around,” the Brookings Institution proclaimed earlier this month, when it released a report that found 44% of all workers are low-wage workers. These workers make a median pay of just $18,000 a year.
Meanwhile, the Fed is still gifting the Grabblers $100 Bn+ every day (EVERY DAY!). The thieves and the thieve-nots.