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The microeconomic picture of the US has changed immensely since 1973 and the trends are proving to be consistently downward for the nations high school graduates and high school drop-outs Of all the reasons given for the wage squeeze - international competition technology deregulation the decline of unions and defense cuts - technology is probably the most critical It has favored the educated and the skilled says M B Zuckerman editor-in-chief of US News World Report 73195 Since 1973 wages adjusted for inflation have declined by about a quarter for high school dropouts by a sixth for high school graduates and by about 7 for those with some college education Only the wages of college graduates are up Of the fastest growing technical jobs software engineering tops the list Carnegie Mellon University reports recruitment of its software engineering students is up this year by over 20 All engineering jobs are paying well proving that highly skilled labor is what employers want There is clear evidence that the supply of workers in the unskilled labor categories already exceeds the demand for their services says L Mishel Research Director of Welfare Reform Network In view of these facts I wonder if these trends are good or bad for society The danger of the information age is that while in the short run it may be cheaper to replace workers with technology in the long run it is potentially self-destructive because there will not be enough purchasing power to grow the economy M B Zuckerman My feeling is that the trend from unskilled labor to highly technical skilled labor is a good one But political action must be taken to ensure that this societal evolution is beneficial to all of us Back in 1970 a high school diploma could still be a ticket to the middle income bracket a nice car in the driveway and a house in the suburbs Today all it gets is
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