Graph of the Day - December 24th

(Source: MaddowBlog via Robert Frank chart by way of Ezra Klein)

Vocabulary Review: "Median" does not mean average...it means exactly in the middle. If there were a total of 3 workers, it's worker in the #2 spot. If the are 101 workers, then it's worker #51. A median worker has an income smack dab in the middle of all workers. The same goes for median rent.

For Baby Boomers to insinuate that current (young) workers have it so much better off and that they are merely squandering their income on unnecessary toys is insulting and counterproductive to any discussion of economic reality. Not only do Baby Boomers as a group speak from a chronologically privileges position (older workers hold a disproportionate percentage of jobs above the median due to number of years on the job, tenure, experience, etc), they also reference their past with false equivalency.

And a note about the "standard of living" argument. This is not 1950. You can't get ahead through social networking by asking everyone you meet for a card and storing it in your Rolodex. A smart phone is a near necessity if you want to get above that median during your life. Most decent jobs now require applications complete with PDF downloads, uploads, customized cover letters, and more information about your past than one person can possibly remember. Let's not forget that just the cost of attending college has grown at a far faster pace than inflation or wages.

Graph of the Day - December 6th

(Source: CNNMoney)

Mancession? He-covery?
(Update: I hadn't heard the term "he-covery" but a little Googling finds a good early source in the NYT.)

During the peak of the Great Recession many economists and labor experts commented on the gendered nature of job losses. Some coined it the "mancession" because men were losing jobs much faster, so fast that at one point the number of working men and women in the American economy was equal. The graph above illustrates that well. There is more behind it though. Newsweek pointed out in July 2009 that it didn't mean it was all roses and daffodils for working women.

The basic gist: women on average hold more part time jobs and are paid less and the Recession hit hardest on "male" jobs, full time jobs, and higher paying jobs.

So men are recovering faster in the job market? I am sure with more research I would understand it better, but I am more interested in the "what it means" rather than the "why." The new jobs created in the "he-covery" tend to be lower paid than the jobs that were lost. If it is the case that men are taking these jobs then as whole we should see the income of men lowered. Does this mean the gap between average pay for men and women will shrink, but not because women have increased towards parity? Just a thought.

Arkansas Republicans start 'em young....

Arkansas College Republicans probably think they were being cute and clever by taking a picture of Governor Beebe out of context and using it to score cheap social media points.

TalkBusiness.net called it "Vile Attacks and Lies by Some Arkansas Republicans" and I couldn't agree more.

@ArkCr @GovBeebeMedia thinks Obamacare is best for Arkansas. Is that him or the booze talking? twitpic.com/7o23s4 #crnc #arleg

@ArkCR @GovBeebeMedia expects Arkansans to follow his lead, yet he is so drunk he cant even stand! #arleg twitpic.com/7o23s4 #crnc

@ArkCR: While thousands of Arkansans can’t find work, @GovBeebeMedia gets hammered drunk. PICTURE: http://t.co/JnAm58kf #arleg

These College Republicans could have still used this picture to go after Gov. Beebe. "Gov. Beebe pours the wine and entertains the upper class while thousands of Arkansans can't even afford Bud Light." Or "Gov. Beebe has champagne taste on Arkansas' beer budget."

Perhaps Young Democrats of Arkansas should seize on the poor taste of their Arkansas counterparts. "Governor Beebe: Servant of the People." "Governor Beebe: Serving up good times."

As for his effort in serving a white wine, it leaves something to be desired: