See Ben Casselman's Itís Getting Harder To Move Beyond A Minimum-Wage Job:
During the strong labor market of the mid-1990s, only 1 in 5 minimum-wage workers was still earning minimum wage a year later. Today, that number is nearly 1 in 3, according to my analysis of government survey data.
It is even worse than that short excerpt suggests. Read the whole thing.
Recall my recent post: When Each US County Hit Peak Median Income. If you aren't in upper ranks of skilled workers then you are facing a stagnant or declining living standard. At the lowest skill levels over half the population isn't working. As automation eliminates more blue collar work I expect more to slide down to minimum wage or no employment.
I have advice for anyone smart enough to develop a skill and motivated enough to sidestep the automation technologies that are gutting various occupations: Get yourself longer lasting skills in a cognitively demanding occupation. Need to start small? Check out Udacity nanodegrees for commercially useful skill sets.
Anyone complacent about this? The need to plan your career and develop skills to keep you competitive has never been greater. It will be greater still as robots wipe out more categories of jobs.
|Share |||By Randall Parker at 2015 October 09 04:11 PM|