Archive for November, 2014

In The College Degree Rush, Blue-Collar Workers Lag Behind

Median annual earnings among full-time workers aged 25-32, in 2012 dollar rate.  Sources: Pew Research Center, U.S. Census Bureau

Median annual earnings among full-time workers aged 25-32, in 2012 dollar rate.
Sources: Pew Research Center, U.S. Census Bureau


Randy Mancusor, 57, started his job as a marine oiler in the 1970s, and made a decent living at the time. But after nearly 40 years oiling machinery on the Staten Island Ferry, he said his salary increases have not kept up with the rising cost of living in New York City.
“The increase doesn’t completely stop the bleeding of inflation,” he said. “The price of everything has gone up since then – housing, gas… Just air hasn’t.”
The Windsor Terrace resident hopes his son, now 19 and a first-year student at the City University of New York studying criminal psychology, will find a white-collar job after his graduation.
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In Search for Freedom, They Break Away With Bitcoin

Wesley Thornburgh, a portfolio manager from Chicago, found himself the odd man out at an experimental bitcoin auction at the New York City Bitcoin Center, which is seeking to become the world’s first regulated bitcoin exchange.
“I feel like I’m the only person here who doesn’t have a background in IT,” said Thornburgh, in a well-tailored suit, when he was standing among casual-dressed bitcoin investors. But he is among the growing Wall Street crowd who are turning to bitcoin for a profitable investment option.
In the center’s large lounge in the very heart of Wall Street, several dozen people crowded around a man standing on a high podium, joining in what looked like an auction.
“610 bid, 620 ask,” the man shouted. “Now it’s selling at 640 a bitcoin.”
A bell rang, followed by a transaction price on an overhead projector. A deal was done.
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Timid Economic Recovery Leaves Men Struggling for Jobs

Thomas Wagner received an Emmy Award nomination for his work as a music composer in 2005, but today he just can’t find a job. He’s one of millions of men whose performance in the recovering job market is lagging behind women.
“I have experience,” Wagner said. “I hired people, sometimes I fired people. But I don’t have a job with another company that shows that experience. It’s a difficult thing.”
Wagner, 63, was among a crowd of job seekers attending a coaching session at a New York Public Library branch on Madison Avenue last week. Out of the nearly 70 attendees, about two thirds were men, mostly in their 40s and 50s. Wagner’s story was typical. He has been looking for a job for six months, sending applications to a dozen companies, but so far without success.
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Job Opportunities Lure Asians Back Home

Shuo Liu, 27, planned to stay in the United States after completing his undergraduate business program in New York, but staying turned out to be tougher than he had thought.

“First of all, you have to win a ‘lottery’ of H-1B visa,” said Liu, from Chengdu in Sichuan province in southwest China. “So your future is based on some luck.”

He found a job after graduation but failed the visa application process. He got lucky on the second try, getting a visa and a job. But the experience made him reconsider. After working for two years, he enrolled for a master of science program in marketing at Baruch College. After graduation next summer, he plans to go home.

“After all, China is my home,” he said with a genuine American accent while sipping Starbucks coffee. “I’ve got my family there, and honestly, I don’t like to be an immigrant. I want to be the mainstream people.”
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