Employer-provided health coverage declining for college grads in entry-level jobs
A college degree is no guarantee of receiving health insurance on the job. Over the recent recession and recovery, college graduates in entry-level jobs (defined as employed college graduates between 23 and 27 years old) have become increasingly less likely to receive employer-provided health insurance coverage.1 The Chart below illustrates the recent trends in employer-provided health insurance for this group. Their incidence of employment-based insurance has fallen roughly nine percentage points from 1999-2000 to 2004-05, from 69.6% to 60.5%.Among those lucky enough to have employer-provided insurance, how many pay a hefty monthly premium toward the cost? Jobs for the college-educated used to include health insurance that was totally paid for by the employer. Not anymore.
Maybe the stock market will provide a good life for future generations. After all, the market just surged past 14,000. That's not too realistic according to DetNews columnist Brian O'Connor:
Dow: Big number, big disconnect
As a reflection of the biggest and best public companies in the nation, a healthy Dow means a healthy stock market, and a healthy stock market means a healthy economy.Money isn't everything though. It can't buy piece of mind or health, and it can't buy security. Those are all intangibles that make up what I believe to be part of the American Dream. The rest of America appears to see it that way too according to Democratic pollster Celinda Lake.
If by "healthy" you mean "all but completely disconnected from the reality of U.S. citizens." [...]
Sure, many (OK, some) of us participate in the broader economy thanks to mutual funds in our retirement plans, and it's nice to see those go up with the Dow. That way, if we hang on until retirement we'll have money for milk, gas and mortgages.
For right now, though, we're seeing very little of the growth from "the economy" showing up in our personal economies.
"There have been times in our history when the American dream was rooted in opportunity, and there have been times in our history where the dream was rooted in security. This is a time, and has been for a couple for years now, where the dream is rooted in security."Face it, the global economy is here to stay, but that doesn't mean the American Dream is no longer relevant. Looking into the future, my dream includes health care for all, social security for our elderly, children who never have to go to bed hungry, and jobs that pay a living wage.
There's not a lot of security in a fast-paced global economy where workers get ahead by chasing opportunities (not obediently following office rules), by constantly reinventing their careers (not relying on seniority), by self-investing their savings (not counting on company pensions).
There's no good reason we can't leave future generations some security and peace of mind.