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The Labor Market
Transcript of The Labor Market
In the mid 20th century, Technology took over
In order to get a job today, you have to be proficient on a computer to get hired. Change In Economy When service jobs increase, the U.S. is losing manufacturing jobs.
American firms can be built in other countries where they get cheaper labor.
In order to have a high paying job, you must be in the skilled wages bracket, because the needs for unskilled labor is decreasing gradually. International Competition To get a good job you must have capital - the education, the training, and job experience
Studies prove the more education you have, the higher you get paid.
Going to college also shows workers you are are intelligent and hard working, which than gives you a better chance of getting hired. College Graduates In 1960, almost 38 percent of women belonged to a labor force
By 2000, the rate jumped to 60 percent
Women are now more likely to have better jobs than men, turning the men into the "stay at home moms." Woman? Working?! Benefits make up 28 percent of total compensation in the U.S. economy.
Social Security taxes are deducted from their paychecks each month
Cost in benefits are now rising, however with Obamacare they should begin to decrease. Cost Of Benefits AN EXTRA SLIDE?!!! Why Must There Be..