Notes in Class

Notes in Class - September 8th "Changing Contours of...

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September 8 th "Changing Contours of Work: Jobs and Opportunities in the New Economy" Globalization/ Technological Revolution 1990s = Industrial Revolution (1830s and 1870s) 1945- 1970s: Job Security- “Company Man”. o Middle Class Affluence- Father working, mom at home. You can have a good middle class life off one income. o Income security- pay rises every year (35% unions) o 1945-1979: economic growth in the USA was 160% after inflation Real wages for bottom 80% grew +160% o Benefit Security- Health Insurance/ pensions o Then there was a shift of jobs to low-cost states and to low-cost countries 1980-Today o 1960’s= 60% manufacturing jobs o Today- 10% manufacturing (7% US private, 13% NJ are union) o Real Economic Growth is +140% o Real Wages of the bottom 80% -4% o Job Security: Great Recession 2007-9 had a 15% loss of jobs and 20% lost pay or hours o 9.4% jobless is the new normal o Part time/ Underemployed- 16%. 25% In total o Income Security: 2 income families
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This note was uploaded on 09/18/2011 for the course SAS 101 taught by Professor Unsure during the Spring '11 term at Rutgers.

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Notes in Class - September 8th "Changing Contours of...

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