Reply #4: A more recent study... [View All]

[punpirate]

... looking at data over a longer period of time dispels the notion of upward mobility, especially when using more traditional measurements of income, education and accumulation of wealth after accounting for inflation. This article outlines the fallacy in the study cited in the above opinion piece:

http://www.commondreams.org/views/021800-101.htm

Moreover, as others have mentioned, the unemployment and jobs figures have been fiddled with over time, so there's some error introduced by comparing apples and oranges. The simplest way to determine actual employment, underemployment and unemployment is to review weekly FICA data, which the government simply will not do, regardless of administration. If Americans knew the actual extent of short-term, long-term and chronic unemployment, they would be horrified.

There's a reason why consumer debt has been rising as quickly as it has. It's no accident that changes in banking laws have allowed credit cards to be used for life essentials--food, utilities, taxes, even bail--credit is making up for shortages in earning power, and for lack of upward mobility.