America is getting richer every year. The American worker is not. Far from it: On average, workers born in 1942 earned as much or more over their careers than workers born in any year since, according to new research — and workers on the job today shouldn’t expect to catch up with their predecessors in their remaining years of employment.
children born in 1940 in California had a roughly 90 percent chance of making more money than their parents did around the age of 30 ... Californians born in 1980 stand less than a 50 percent chance of making more than their parents ... California mirrors the national pattern in income mobility very closely.Nationwide, only 50 percent of Americans born in 1980 were out-earning their parents at the age of 30. That percentage has ticked up a bit in subsequent years, but not by much.
Normally, businesses in the city pay a tax of 2.2 per cent of their net income to city hall ... starting in January, an extra 10 per cent tax will be levied if the CEO makes more than 100 times the average salary at the company. If he or she makes more than 250 times, the added tax is even higher — an extra 25 per cent ... There are currently about 550 publicly traded companies including Wells Fargo, Walmart and General Electric that have operations in the city,
The highest-paying jobs disproportionately reward those who can work the longest, least flexible hours. These types of job penalize workers who have caregiving responsibilities outside the workplace. Those workers tend to be women ... The gender gap in pay would be considerably reduced and might even vanish if firms did not have an incentive to disproportionately reward individuals who worked long hours and worked particular hours.
Students who earned vocational certificates from for-profit colleges made an average of $900 less annually after attending the schools than they did before...leaving those who took out loans hard-pressed to pay them back. By contrast, demographically similar students who received the same certifications from public community colleges earned $1,500 more than they did before attending school.
A new Glassdoor report looks at the gender pay gap in the United States and finds that the industry with the greatest gap between men's pay and women's pay is health care, with an average of 7.2 percent higher pay for men. Insurance (7.2 percent) is tied for first place, followed by mining and metals (6.8 percent), transportation and logistics (6.7 percent), and then, in fifth, the media, with 6.6 percent higher pay for men over women
homelessness is primarily a symptom of poverty. In Los Angeles County, 289,144 people spend 90% of their income on rent and have household incomes that don't even reach halfway to the poverty line. These families live on the precipice of homelessness ... from 2000 to 2013, the median rent for an apartment in Los Angeles increased 27% while renters' median income fell 7%.
We tend to think of the drastic decline in unions as an inevitable consequence of technological change and globalization, but one need look no further than Canada to see that this isn’t true. Once upon a time, around a third of workers in both the US and Canada were union members; today, US unionization is down to 11 percent, while it’s still 27 percent north of the border. The difference was politics: US policy turned hostile toward unions in the 1980s, while Canadian policy didn’t follow suit.
women’s chosen occupations and industries, versus men’s, accounted for forty-nine per cent of the gap; the jobs and sectors made up disproportionately of women simply tend to pay less than those occupied mostly by men ... Women’s relative inexperience accounted for eleven per cent ... and men’s higher representation by unions explained four per cent ... however, a significant portion of the gap that was unexplained—forty-one per cent ... what could be behind that share. Is it discrimination?
In the past decade, as tech jobs have boomed in Silicon Valley, so has rent. Average monthly rents for a one-bedroom apartment are $2,186 in San Jose, $2,469 in Oakland and $3,361 in San Francisco ... Salaries for tech shuttle drivers start at around $2,900 a month — making even modest nearby apartments unaffordable. Instead of moving somewhere cheaper on the outskirts of the Bay Area — hours from their jobs ... tech bus drivers live in their cars.