You may have seen the article in Monday’s WSJ that spoke about towns and companies enticing younger people to move with $5,000 to help pay student loans or pay for a house. Mike Allgrunn, an economist at the University of South Dakota, dubs these “a modern-day Homestead Act.”
From the above graph, courtesy of the Atlanta Fed, you can see the one demographic driving higher wages: youth. Run this graph through its various iterations: education, race, and census division; none of these statistical parsings come close to showing the large wage difference for just being young. Why? Because we have a shortage of young workers. Especially young, skilled workers. Here’s another great article from Reuters. Read More Here
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