Friday, July 1, 2011

Middle Class Jobs Are Gone

"The American dream is dead for the majority of America," financial guru Suze Orman told Forbes last year, speaking about her upcoming book "The Money Class."

The dream she was referring to isn't a Cinderella story. Rather, Orman believes the hope of someday owning a home, of working one job for life and retiring at 65 has been crushed by the financial crisis. "The middle class has disappeared," she said. "Many of the millions of jobs lost I don't think are coming back. I am really afraid for the majority of Americans today."
Are stable, well-paying middle-class jobs an endangered species? Economists say: Sort of.
"The idea that one can have a single-earner family, get a good job, keep it for life and have a comfortable living is all but gone," says Kevin Hallock, professor of labor economics and director of the Institute for Compensation Studies at Cornell University. "Long-term job stability is declining, and there aren't good unionized jobs like there once were."


READ MORE CLICK ON HEADING OF THIS ARTICLE ABOVE

No comments:

Post a Comment