Derek Thompson on the alarming statistics regarding male employment and earnings in today’s economy:
If you isolate real wages for working class men, the picture darkens. Real wages for the typical guy have declined by 28 percent since 1969 and for men without a high school degree, they’ve fallen by a whopping 66 percent. Men once employed in construction have practically sat out the recovery. Since 2009, one in five has been idle.
It gets even bleaker for young men. The unemployment rate for males between 25 and 34 years old with high-school diplomas is 14.4%, the Wall Street Journal reported this week. The share of this group of young men living with their parents has increased to nearly 19 percent in the last few years, a 50-year record.
With these types of figures, it is no wonder the ‘Occupy Wall St’ movement refuses to die. People simply have no alternatives – do something, or starve.
Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.