economics

Showing 165 posts tagged economics

theatlantic:

Indisputable Evidence That Millennials Have It Worse Than Any Generation in 50 Years

Every generation likes to believe that it came of age at an especially trying moment in history. Millennials have the Great Recession to lament. Gen X had the dotcom bust. The Boomers had Vietnam. And the Silents had the early Cold War, complete with the not-so-silly threat of nuclear war. 
But at least when it comes to the job market, I think we can all agree by now that today’s young adults are deserving of at least a few extra pity points. And should there be any doubt, here’s a wonderful, one-chart demonstration of why from a new Pew report. At every education level, the 25- to 32-year-olds of 2013 confronted a higher unemployment rate than past generations did when they were stepping into the workforce. And keep in mind, that’s 2013—four years after the economy was supposed to have started mending.
Read more. [Image: Reuters]

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theatlantic:

Indisputable Evidence That Millennials Have It Worse Than Any Generation in 50 Years

Every generation likes to believe that it came of age at an especially trying moment in history. Millennials have the Great Recession to lament. Gen X had the dotcom bust. The Boomers had Vietnam. And the Silents had the early Cold War, complete with the not-so-silly threat of nuclear war. 

But at least when it comes to the job market, I think we can all agree by now that today’s young adults are deserving of at least a few extra pity points. And should there be any doubt, here’s a wonderful, one-chart demonstration of why from a new Pew report. At every education level, the 25- to 32-year-olds of 2013 confronted a higher unemployment rate than past generations did when they were stepping into the workforce. And keep in mind, that’s 2013—four years after the economy was supposed to have started mending.

Read more. [Image: Reuters]

Prepay College? In Florida You Can

Tens of thousands of families used to buy into the Florida Prepaid College Program every year, hoping to lock in a lower price for a university education for their children.

But as tuition and student fees have soared, so has the cost of the program, pricing out many low- and moderate-income families. Prepaid Program officials are now steering some families toward the less-expensive community-college plans.

Do you live, or work, in a Super Zip?

Super Zips are “the country’s most prosperous, highly educated demographic clusters. On average, they have a median household income of $120,000, and 7 in 10 adults have college degrees.” This fascinating map from the Washington Post reveals how “it’s possible to live in a Super Zip and rarely encounter others without college degrees or professional jobs.” That’s problematic because “the trend is isolating well-to-do Americans from the problems of the poor and the working poor.”
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Do you live, or work, in a Super Zip?

Super Zips are “the country’s most prosperous, highly educated demographic clusters. On average, they have a median household income of $120,000, and 7 in 10 adults have college degrees.” This fascinating map from the Washington Post reveals how “it’s possible to live in a Super Zip and rarely encounter others without college degrees or professional jobs.” That’s problematic because “the trend is isolating well-to-do Americans from the problems of the poor and the working poor.”

Life on Minimum Wage - An Economics Lesson

The purpose of Life on Minimum Wage is for students to recognize how difficult it is to save money when your only job(s) pay minimum wage without benefits. To win (prize not determined yet) at Life on Minimum Wage the students have to reach five financial goals that they select. To earn money the students have to complete the tasks of their assigned jobs. The students then have to pay required bills before using money for their selected financial goals. As the game progresses students will be issued “surprise” cards which require them to spend money on things like speeding tickets, trips to a health clinic, and increases in rent.

Opening School Data Carries Economic Value, Report Contends

The increasingly ubiquitous flow of data across education has caused anxiety among parents and privacy advocates, who fear that information about students will be released or shared with outside entities without permission. Yet a new report, while acknowledging those concerns, focuses on a potential payoff in expanding the openness of data across K-12: robust economic growth.
That analysis, released by the global consulting business McKinsey & Co., concludes that creating more open and transparent data in education from both public and private sources could “unlock” between $900 billion and $1.2 trillion in annual economic value worldwide, about a third of it in the United States.
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Opening School Data Carries Economic Value, Report Contends

The increasingly ubiquitous flow of data across education has caused anxiety among parents and privacy advocates, who fear that information about students will be released or shared with outside entities without permission. Yet a new report, while acknowledging those concerns, focuses on a potential payoff in expanding the openness of data across K-12: robust economic growth.

That analysis, released by the global consulting business McKinsey & Co., concludes that creating more open and transparent data in education from both public and private sources could “unlock” between $900 billion and $1.2 trillion in annual economic value worldwide, about a third of it in the United States.

Importance of Economic, Financial Literacy Can’t Be Understated

Young Americans have even less of a grasp on personal finance and economic education than adults do. Economic and financial literacy among students has not increased in recent years despite the acknowledged importance of the subjects by decision-makers.
The National Assessment of Educational Progress (NAPE) measures knowledge in a variety of subject matters on a periodic basis. The NAPE test in economics is given nationally every six years. The 2012 results showed that 57 percent of high school students scored below basic or at the basic level; about 40 percent were proficient, and only 3 percent were at the advanced level. A recent survey by the Jump$tart Coalition also found that fewer than half of all high school seniors have a general understanding of credit, saving, insurance or retirement.

image via flickr:CC | 401(K) 2013 High-res

Importance of Economic, Financial Literacy Can’t Be Understated

Young Americans have even less of a grasp on personal finance and economic education than adults do. Economic and financial literacy among students has not increased in recent years despite the acknowledged importance of the subjects by decision-makers.

The National Assessment of Educational Progress (NAPE) measures knowledge in a variety of subject matters on a periodic basis. The NAPE test in economics is given nationally every six years. The 2012 results showed that 57 percent of high school students scored below basic or at the basic level; about 40 percent were proficient, and only 3 percent were at the advanced level. A recent survey by the Jump$tart Coalition also found that fewer than half of all high school seniors have a general understanding of credit, saving, insurance or retirement.

image via flickr:CC | 401(K) 2013

America’s Wasteful Higher Education Spending, In a Chart

How badly do Americans overspend on college? Look at it this way: We devote more of our economy to postsecondary education than any other developed country (except South Korea, with whom we’re tied), according to a new report by the Georgetown Center on Education and the Workforce. But we’re rated near the bottom of the 20 countries included by college spending “efficiency”—or, degrees earned per percentage point of GDP spent.
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America’s Wasteful Higher Education Spending, In a Chart

How badly do Americans overspend on college? Look at it this way: We devote more of our economy to postsecondary education than any other developed country (except South Korea, with whom we’re tied), according to a new report by the Georgetown Center on Education and the Workforce. But we’re rated near the bottom of the 20 countries included by college spending “efficiency”—or, degrees earned per percentage point of GDP spent.

The Shutdown and Education: Your Cheat Sheet