• Higher education matters!

    From a425couple@21:1/5 to All on Sat Nov 14 09:21:34 2020
    from https://www.seattletimes.com/business/americas-least-educated-face-worst-job-expectations-since-2014/

    America’s least educated face worst job expectations since 2014

    Nov. 9, 2020 at 2:49 pm Updated Nov. 10, 2020 at 9:39 am
    The New York Stock Exchange building in New York on Oct. 2, 2020. (John
    Taggart / The New York Times)

    By Alex Tanzi
    Bloomberg News
    U.S. workers with only a high-school education or less continue to fall
    further behind, a New York Federal Reserve consumer survey showed.

    The expectation of being able to replace a lost job declined to 38.9% in September, the lowest reading since April 2014, the report released
    Monday showed. That compares with more than 48% for people with at least
    some college and more than 50% for those with a bachelor’s degree.

    The least educated expected their one-year earnings growth to be just
    1%, the lowest since the survey started in June 2013. Those with at
    least some college expected double that amount.

    Less-educated workers don’t think they can relocate to areas where
    employment prospects might be brighter, according to the survey. That
    led to the largest gap in two years in moving expectations between the
    least educated and those with a college degree.

    Low savings rates also are expected among the least educated, the Fed
    data showed.

    The Fed’s survey of consumer expectations questions a rotating panel of
    1,300 household heads across the U.S. Respondents participate in the
    panel for up to 12 months, with a roughly equal number rotating in and
    out of the panel each month.

    Alex Tanzi

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