Re: Why Some Men Earn Less Than They Did 40 Years Ago
"The strong market was partly because European countries and Japan were still rebuilding their manufacturing capacity, destroyed during the war. Also, a lot of technology that has since replaced labor hadn't come on line yet. Levy says these factors provided 'a lot of jobs in manufacturing and other related occupations.' "
I think this is probably most of it. Basically, in recent decades, a few more billion people have been added to the blue and white collar labor force. I hate to say it, but there isn't much you can do about this. It's actually a miracle we're managing to stay level.
Not sure where they're going with the higher education thing. According to the data, that 30 percent is actually a peak. Back in 1975, it was more like 22 percent.