1. Labor and Wages Journal: 1.) After high school how are you going to provide for yourself and your own family someday? Detail the steps you will need to take to get there. 2.) How much do you think you need to make for a comfortable standard of living on your own? What is your goal income at middle age (30s)? Why did you pick those numbers?

3. Yearly Averages Professional Degree:$112,000 Doctoral Degree:$93,000 Master’s Degree:$68,000 Bachelors Degree:$55,000 Associates Degree:$40,000 Some College:$36,000 H.S. Graduate:$33,000 Some H.S:$22,000

4. CriteriaOverall Less than 9th grade High school drop-out High school graduate Some college Associate s degree Bachelor' s degree Bachelor' s degree or more Master's degree Professio nal degree Doctoral degree Median individual income Male, age 25+ $33,517$15,461$18,990$28,763$35,073$39,015$50,916$55,751$61,698$88,530$73,853 Female, age 25+ $19,679$9,296$10,786$15,962$21,007$24,808$31,309$35,125$41,334$48,536$53,003 Both sexes, age 25+ $32,140$17,422$20,321$26,505$31,054$35,009$43,143$49,303$52,390$82,473$70,853 Median household income $45,016$18,787$22,718$36,835$45,854$51,970$68,728$73,446$78,541$100,000$96,830

5. What are the chances of a child growing up in poverty if: (1) the mother gave birth as a teen, (2) the parents were unmarried when the child was born, and (3) the mother did not receive a high school diploma or GED? –27% if one of these things happen –42% if two of these things happen –64% if three of these things happen –Only 7% if none of these things happen Put another way, if these three things happen, a child’s chance of growing up in poverty is 9 times greater than if none of these things happen.

6. Categories of Labor Unskilled Labor: –Work with hands – lack training to do complex jobs –Small amount of Capital invested in them –Lowest wage earners.

7. Examples of Unskilled Labor

8. Categories of Labor Semiskilled Labor: –Enough training ability to operate machines that require a minimum amount of training. –Higher wages and a larger investment in Human Capital.

9. Examples of Semiskilled Labor

10. Categories of Labor Skilled labor: –Workers who are able to operate complex equipment. –Need little supervision. –Higher wages and a larger investment in Human Capital.

11. Examples of Skilled Labor?Skilled Labor

12. Categories of Labor Professional Labor: –Highest level of knowledge based education –Great managerial skills –Invested their own capital in training –Have the highest incomes.

13. Examples of Professional Labor

14. What Determines how much someone Makes? Experience Demand Education Skill Location Safety Union v Non-Union

15. Who Protects the Worker? Does the Employer? What is a Union? –Group of workers of the same craft/skill represented together to negotiate wages, hours, and benefits. Why Unions? Harsh work environments of the Industrial Revolution.

16. Union Activities Strike Picket Boycott When do these work and not work? What era do you think Union membership was highest? Why? Do you think Union membership is going up or down in the 21 st century?

17. What is the Minimum Wage? The baseline hourly wage that all employers have to pay at or above. Federal = $5.75 State = $8.00 Journal –Why do you think we have a minimum wage? –How does society and/or the worker benefit from it?

18. Good or bad? Helps insure standard of living. Worker welfare. Helps to keep economy stable when there is a surplus of labor. Crash Course “Labor Markets”Labor Markets” Can cause prices to go up. Make workers lazy Still not enough to live off of?

19. Career Assignment Pick at a career from the link on my website and research the following for each one. –Job description –Job requirements –Starting, average and top income expectations. –Growth expectations –What would you need to do in order to get a job in that career starting today?