The Shrinking Income of Young Americans

from The Atlantic American families are grappling with stagnant wage growth, as the costs of health care, education, and housing continue to climb. But for many of America’s younger workers, “stagnant” wages shouldn’t sound so bad. In fact, they might sound like a massive raise. Since the Great Recession struck in 2007, the median wage for people between the ages of 25 and 34, adjusted for inflation, has fallen in every major industry except for health care. Young People’s Wages Have Fallen Across Industries Between 2007 and 2013 …  More here.

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As Robots Grow Smarter, American Workers Struggle to Keep Up

from NYTs A machine that administers sedatives recently began treating patients at a Seattle hospital. At a Silicon Valley hotel, a bellhop robot delivers items to people’s rooms. Last spring, a software algorithm wrote a breaking news article about an earthquake that The Los Angeles Times published. Although fears that technology will displace jobs are at least as old as the Luddites, there are signs that this time may really be different. The technological breakthroughs of recent years — allowing machines to mimic the human mind — are enabling machines to do knowledge jobs and service jobs, in addition to […]

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Why It’s So Hard for Millennials to Find a Place to Live and Work

from The Atlantic So what’ll it be: Dayton or San Francisco? Alright, so that’s not the most common choice for young people getting ready to start their lives. But it’s an instructive question. Dayton is the most affordable housing market in the United States, according to Trulia chief economist Jed Kolko, while San Francisco is the least affordable place to live in America. But the San Francisco-San Jose area has a better record of social mobility than just about any region in the country, according to Harvard economist Raj Chetty. In other words, a variety of factors make it the best place […]

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