"Nearly half of the college graduates in the class of 2010 are working in jobs that don’t require a bachelor’s degree and 38 percent have jobs that don’t even require a high school diploma, according to a January report from the Center for College Affordability and Productivity. The report called into question whether too much public money is being spent on providing students with degrees that make them overqualified for the only jobs that are available."
284,000 College Graduates Had Minimum-Wage Jobs Last Year (via robot-heart-politics)
Is it a commentary on the lack of value in higher education? Or is it about the job market not taking advantage of the talent surplus in the labor pool? Are there corporate, government, or entrepreneurial opportunities being missed because job creators are not taking risks?
"Every dollar spent at a locally owned business generates two-to-four times the economic development impacts as a dollar spent on an equivalent non-local business."
Forbes piece on the amazing power of spending locally. (via poptech)
It’s not only healthy for you to eat fresh and local food, it’s healthy for your neighborhood’s economy.
"Inequality is growing in the United States, and social mobility is slowing. A study by the Pew Charitable Trusts found that 62 percent of Americans raised in the top one-fifth of the income scale stay in the top two-fifths; 65 percent born in the bottom fifth stay in the bottom two-fifths. Education, long praised as the great equalizer, no longer seems to be performing as advertised. A study by Stanford University shows that the gap in standardized-test scores between low-income and high-income students has widened about 40 percent since the 1960s—now double that between black and white students. A study from the University of Michigan found that the disparity in college-completion rates between rich and poor students has grown by about 50 percent since the 1980s."
Has Higher Education Become an Engine of Inequality? - The Chronicle Review - The Chronicle of Higher Education (via infoneer-pulse)
An interesting, and challenging question…
"Nothing can take the sting out of the economic crisis like watching millionaires provide each other with golden statues."
— Billy Crystal, crystallizing the Oscars in one sentence.
In a study released Wednesday, the nonpartisan Public Policy Institute of California reports that the proportion of households it defines as the middle class — those with annual incomes between $44,000 and $155,000 — has dropped below half, to 49.7 percent.
Households below that level account for 36.6 percent of Californians, and those above account for 13.7 percent.
The percentage of Californians in the middle class is the lowest in at least 30 years, the report says, and has consistently fallen since its peak of 60 percent in 1980.
Fewer than half of Californians can now be called ‘middle class’ » Ventura County Star (via shorterexcerpts)