This is an important article from the WSJ citing latest evidence. About one out of every six recent high-school graduates got that diploma and went on to…nothing.
The trends are interesting. Black and Hispanic are showing improvement over time, whilst there are some alarm bells for white youngsters, especially males. The authors are cautious about explaining the trends.
Simply, we live in a global market place and jobs have been offshored where costs are lower and productivity is higher. The outlook for white teenagers, especially males, without skills and further education is bleak – they will increasingly turn to alcohol, marijuana, obesity and an early grave. Technology and offshoring will increasingly eliminate unskilled and semi-skilled jobs. There will also be increasing competition for available jobs from immigrants who cost less and are likely to be more productive.
Right wing populists, like Trump, le Pen and Boris Johnson are offering false promises. Older people need to smarten up and not listen to the promises of the right wing populists. Parents need to ensure that their children are ready to compete effectively in a global market place with appropriate skills, education and confidence. This morning, I have used a similar argument for the UK to remain in the EU and ignore the false promises of the Brexiteers.