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College grads taking low-wage jobs displace less educated

D

dmcowen674

No Lifer
3-7-2014

http://finance.yahoo.com/news/college-grads-taking-low-wage-050103344.html

College grads taking low-wage jobs displace less educated


Jeanina Jenkins, a 20-year-old high-school graduate from St. Louis, is stuck in a $7.82-an-hour part-time job at McDonald's Corp. that she calls a "last resort" because nobody would offer her anything better.





Stephen O'Malley, 26, a West Virginia University graduate, wants to put his history degree to use teaching high school. What he's found instead is a bartender's job in his home town of Manasquan, New Jersey.

"The underemployment of college graduates affects lesser educated parts of the labor force," said economist Richard Vedder, director of the Center for College Affordability and Productivity

"The underemployment of college graduates affects lesser educated parts of the labor force," said economist Richard Vedder, director of the Center for College Affordability and Productivity

As the number of college graduates outweighs the availability of education-appropriate jobs and they take whatever they can get, everyone else is pushed down the ladder, said Katie Bardaro, PayScale's lead economist and analytics manager.

"There's not really a lower-level job they can move into since they were already in a low-level job,
 
I wonder what Ms. Jenkins major was...

Mr. O'Malley should be able to get a teaching job with a degree in history. The trouble is, he will probably have to move to find one.
 
JManInPhoenix said:
I wonder what Ms. Jenkins major was...

Mr. O'Malley should be able to get a teaching job with a degree in history. The trouble is, he will probably have to move to find one.
Click to expand...

Ahh, yes- slime the victim. Works every time, huh? Well, at least in helping you maintain denial.

Time was that the particular degree didn't matter. Having it showed employers that you were intelligent, hardworking, willing to learn & to play the game.

Your bullshit just shows how much things have changed, and how effective the propaganda about jobs in this country really is. There are very, very few degrees, if any, that act as a shoo-in to your field of choice. A young person today could pick a seemingly solid major, work hard, get great grades, obtain an advanced degree only to find out it's obsolete when they get there. Which, in your estimation, is their fault entirely because they couldn't foretell the future.

It's like nesting sites for swallows. If you destroy the places where they nest, they can't survive. If the so-called Jerb Creators! keep destroying the jobs in this country, we'll end up in the same fix.
 
I think it's time for government to start directing actual employment of individuals and placing people in jobs.

It's common sense. Job seekers don't have enough information to properly find jobs or even put themselves in the right degree program, the government should be able to take care of that for them.

Jerb Creators have zero incentive to actually give a shit about the trouble that job seekers are in. They care only about profits and shitting on the workforce.

The only logical answer at this point is to create an government office of employment which has complete control over businesses hiring and firing employees as well as education and career placement for job seekers. It's time for the American people to take control and take the country back from the faceless and unaccountable jerb creators.
 
momeNt said:
I think it's time for government to start directing actual employment of individuals and placing people in jobs.

It's common sense. Job seekers don't have enough information to properly find jobs or even put themselves in the right degree program, the government should be able to take care of that for them.

Jerb Creators have zero incentive to actually give a shit about the trouble that job seekers are in. They care only about profits and shitting on the workforce.

The only logical answer at this point is to create an government office of employment which has complete control over businesses hiring and firing employees as well as education and career placement for job seekers. It's time for the American people to take control and take the country back from the faceless and unaccountable jerb creators.
Click to expand...

Hi, Honey. Do you troll here often?
 
dmcowen674 said:
and the race to the bottom is far from done.
Click to expand...

Actually its a race to the top. In the future all burger flippers will have higher education and a College Degree.

So employees now get to hire a much higher caliber of employee with 4 year degrees VS the highschool dropout.

In the future. All jobs will have a College educated workforce.
 
Jhhnn said:
Ahh, yes- slime the victim. Works every time, huh? Well, at least in helping you maintain denial.

Time was that the particular degree didn't matter. Having it showed employers that you were intelligent, hardworking, willing to learn & to play the game.

Your bullshit just shows how much things have changed, and how effective the propaganda about jobs in this country really is. There are very, very few degrees, if any, that act as a shoo-in to your field of choice. A young person today could pick a seemingly solid major, work hard, get great grades, obtain an advanced degree only to find out it's obsolete when they get there. Which, in your estimation, is their fault entirely because they couldn't foretell the future.

It's like nesting sites for swallows. If you destroy the places where they nest, they can't survive. If the so-called Jerb Creators! keep destroying the jobs in this country, we'll end up in the same fix.
Click to expand...

Bitter much? What I said is factual. I am in no way in denial - you appear to live in some alternate reality. Having an AAS, BS/BA, MA/MS or even PhD in itself does not entitle a person to employment; having a needed skill set is what gets one a job.

The BS degree I have, Computer Info Systems, is pretty much a POS degree in regards to employment. I do not for minute however, regret getting my degree. I actually enjoyed the liberal arts portion of my schooling more than computer related courses. I am glad I went to college.

The reality though is that I have to make a living. 30 plus years of experience in the electronics field is what gives me the skill sets I need to be employable. That is what keeps a roof over my family's head and food on the table. Everything I have, I have worked for - nothing was given to me because I "deserved it."

Do you think someone with a degree in <> studies should be paid $100K a year when they have nothing to offer an employer? I suspect Ms. Jenkins does have a degree in a useless subject.

I also suspect Mr. O'Malley will find a job in teaching. He probably will not start out at the school of his choice however. It will be necessary for him to move to the job rather than wait for the job to come to him.
 
dmcowen674 said:
3-7-2014

Jeannine Jenkins, a 20-year-old high-school graduate from St. Louis, is stuck in a $7.82-an-hour part-time job at McDonald's Corp. that she calls a "last resort" because nobody would offer her anything better.
Click to expand...

Well I hate to break it to her but she has a high school degree. With that she is competing against thousands of illegal immigrants willing to work for less.

High schools have been dumbed down so much they do not really prepare you for anything other than working at McDonalds.
 
JManInPhoenix said:
Bitter much? What I said is factual. I am in no way in denial - you appear to live in some alternate reality. Having an AAS, BS/BA, MA/MS or even PhD in itself does not entitle a person to employment; having a needed skill set is what gets one a job.

The BS degree I have, Computer Info Systems, is pretty much a POS degree in regards to employment. I do not for minute however, regret getting my degree. I actually enjoyed the liberal arts portion of my schooling more than computer related courses. I am glad I went to college.

The reality though is that I have to make a living. 30 plus years of experience in the electronics field is what gives me the skill sets I need to be employable. That is what keeps a roof over my family's head and food on the table. Everything I have, I have worked for - nothing was given to me because I "deserved it."

Do you think someone with a degree in <> studies should be paid $100K a year when they have nothing to offer an employer? I suspect Ms. Jenkins does have a degree in a useless subject.

I also suspect Mr. O'Malley will find a job in teaching. He probably will not start out at the school of his choice however. It will be necessary for him to move to the job rather than wait for the job to come to him.
Click to expand...

Yeh, yeh. I got mine, too, but it doesn't mean I have to denigrate others who haven't been as lucky, nor do I have to accept the idea that it's still the same as it was 30 years ago, either. Capitalism has moved on, left the American population behind. Well, not quite, but they're working on it. No matter your skill set, there's somebody somewhere else who'll do it for a lot less. But we still have the privilege of paying First world overhead, of course, even if the best job we can find is at McD's.

Do I think... what? What sort of preposterous words are you trying to put in my mouth?
 
dmcowen674 said:
Stephen O'Malley, 26, a West Virginia University graduate, wants to put his history degree to use
Click to expand...
Parenting fail. Did nobody tell him that useless degrees are more of a liability than an asset?

Don't worry, our government is working overtime to fix this issue. Democrats are working to ensure that 100% of Americans qualify for a quarter million dollars worth of student loans to learn underwater basket weaving, and republicans are working to ensure that debt stays with them after filing for bankruptcy.
 
"A 20 year old high school graduate..." ?

Recent?

I guess to the dumbmcowneds of the world that counts as a "college grad".
 
JManInPhoenix said:
Bitter much? What I said is factual. I am in no way in denial - you appear to live in some alternate reality. Having an AAS, BS/BA, MA/MS or even PhD in itself does not entitle a person to employment; having a needed skill set is what gets one a job.
Click to expand...

Jhhnn is probably as dumb as the OP. Ms. Jenkins has no degree in anything, apparently. That now seems to count as college grad though.
 
What the sheeple who buy into the notion that these people would be employed if they had degrees in "useful fields" fail to realize is that if everyone with "useless" liberal arts degrees majored in "useful field" we would have a gigantic oversupply of people with degrees in those useful fields.

Tripling the number of people with Electrical Engineering degrees will not magically triple the number of electrical engineering jobs at currently prevailing wage rates.
 
Jhhnn said:
Ahh, yes- slime the victim.
Click to expand...

Victim of whom/what?

WhipperSnapper said:
What the sheeple who buy into the notion that these people would be employed if they had degrees in "useful fields" fail to realize is that if everyone with "useless" liberal arts degrees majored in "useful field" we would have a gigantic oversupply of people with degrees in those useful fields.

Tripling the number of people with Electrical Engineering degrees will not magically triple the number of electrical engineering jobs at currently prevailing wage rates.
Click to expand...

Not everyone needs to be an engineer or doctor, but there's always the option of, you know, simply not getting a degree if one is desired primarily for employment purposes.
 
HamburgerBoy said:
Victim of whom/what?



Not everyone needs to be an engineer or doctor, but there's always the option of, you know, simply not getting a degree if one is desired primarily for employment purposes.
Click to expand...

You must be new to the career world let me introduce you to the academic hierarchy.

Highschool < Bachelors < Masters < Phd

Not everyone works with their degree, I think the problem is just... not enough jobs.

Pfizer shut down their antibiotics research division because it wasn't profitable enough. They researched antibiotics there for 70 years. Good luck competing with those guys on the biotech market!

We stopped DOING things. Developing, researching, etc. Everything now is just copy paste.
 
Last edited:
Jhhnn said:
Ahh, yes- slime the victim. Works every time, huh? Well, at least in helping you maintain denial.

Time was that the particular degree didn't matter. Having it showed employers that you were intelligent, hardworking, willing to learn & to play the game.

Your bullshit just shows how much things have changed, and how effective the propaganda about jobs in this country really is. There are very, very few degrees, if any, that act as a shoo-in to your field of choice. A young person today could pick a seemingly solid major, work hard, get great grades, obtain an advanced degree only to find out it's obsolete when they get there. Which, in your estimation, is their fault entirely because they couldn't foretell the future.

It's like nesting sites for swallows. If you destroy the places where they nest, they can't survive. If the so-called Jerb Creators! keep destroying the jobs in this country, we'll end up in the same fix.
Click to expand...


Bull-fucking-shit. Degrees are economic decisions and the problem is that college has been economically priced out of reach from most degree's ability to repay the degree. How? Because states have cut back on funding when they were traditionally the gatekeepers to the loonery undertaken by schools. Since the Federal Government is a horrible gatekeeper but has much deeper pockets the schools have enjoyed a financial bonanza while stiffing the students, and thus the Federal Government, with the bill. Then the Federal Government, in leagues with the lenders, decided that it would be better to make all student loans non-dischargable, thus stiffing the borrower as a debt slave when they really shouldn't even be going to school in the first place.

What we are seeing now is that other types of debt, economic producing debt, is being squeezed out. It is my very firm belief that we will not see another subprime mortgage crisis, but we will see a problem with all other types of debt for low-FICO/Socio-economic status people. This will predominately hit the younger generation and the lower classes who will effectively be pauper-ized, not just by the student loan debt, but by the effects of being a debt slave to it. Combine that with the fact that most credit card companies have cut off low-FICO borrowers and now they go to a Springleaf type unsecured loan to buy up the material goods ladder. Finally, you add in that wage stagnation for the lower classes have crushed them over the last 30 years due to outsourcing and trickle down. The lower classes used credit to buy up their purchases but that bonanza ended.

Student loan debt will not cause a subprime crisis but it will effectively bifurcate our entire economic system, crushing the lower classes to perpetual debt.

You see this affect now in subprime auto. Yes, underwriting standards have slipped but they have not slipped to the extent that would cause massive delinquencies. It is my firm (but yet unconfirmed) belief that a material portion of stressed subprime auto buyers have student loans.

How did they get to be subprime in the first place? Probably because they were delinquent on their loans. Or, if deep-subprime they probably went through bankruptcy, but since their student loans didn't get discharged they have to give up the one thing they can, their car, since they were out of forbearance and deferments.

This shift is striking in that car ownership among the younger generation is falling. I think some of that is due to coddling parents, but I also think that the 22+ age group is being affected by student loans. You see it in the massive increase in students living at home.

Another problem is that the largest predictor of defaults is not finishing school. Since many kids major in drinking they flunk out, and now they can't go up the ladder with their new debt, so they are stuck. Add that to the fools who listen to for-profit schools that will never realize the gains they are sold on, while their degrees are 30% higher costing than public schools, since they couldn't get into public schools in the first place. Since they don't have the brains to improve (even if they do graduate) they are stuck at a low-paying job with no hope of getting out with a massive pile of debt that they cannot get rid of.

So what do they do? Default on their credit cards, or auto loans, or unsecured personal loans.

Add into that Obama and his myopic and idiotic idea to shove more money at the problem.

This is a huge problem for this economy, one I have mentioned both here and in my professional life. We haven't even begun to see how big it is.
 
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