Wednesday, February 06, 2008

Income mobility

courtesy of Mark Perry:

I understand the probable reason why redistributionists (who call themselves progressives) decry stagnant wages for the last several decades. It's because wages for entry level jobs which do not require a college education have remained stagnant.

What the wage data does not show is how someone who makes $30,000 at 20-25 years of age may end up making $50,000, with health care benefits on top of that, by the time (s)he is 30 years old. It happened to me, it happened to my wife, it happened to my condo superintendent.

In a pool of 20 of workers without college education that I have observed in New York City over the last 7 or more years, the only ones without upward income mobility are the ones who do not have legal status to reside in the country.

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