The truth is out. We are living in a time when a shocking four out of 5 U.S. adults will struggle with joblessness or poverty. This revelation not only flies directly in the face of another drop in unemployment, but reconfirms what many of us had already known, we’re in trouble.
If you find yourself looking for a job, you’re in an over-crowded market where the young and educated are relegated to jobs well below their intellectual station. This is due in part to the heavy competition at the of the top of the job market among the highly-skilled. Basically, those left out of the jobs they really want are knocked down a peg, creating what Economist Paul Beaudry calls “cascading.” The top pushes down on the middle and the middle pushes down on the bottom, burying those who are most vulnerable and under-qualified.… Read the rest