Prior to the 1960's, it wasn't unusual for a college-educated man to marry a woman with earnings that were significantly less than his -- or a woman who earned nothing at all.
Over time, as more women entered college, a pattern of "assortative mating" began to emerge. Research shows that, beginning in the 1960s, college-educated men became more likely to marry women who were also college-educated. Income is highly correlated to education, leading to the growth of double-income households that earn more then their less-well-educated peers. Some researchers though, warn that structural factors like taxation and the shrinkage of labor unions are far more pertinent when discussing the rise of inequality in 21st century America.Marketplace Morning Report for Thursday May 29, 2014by Noel KingPodcast Title How marriage contributes to inequality Story Type FeatureSyndication SlackerSoundcloudStitcherSwellPMPApp Respond No
The New York Police Department's Demographics Unit reportedly carried out systematic surveillance of Muslim neighborhoods to root out terrorist threats, but it never produced a single usable lead.
The country's Supreme Court handed down a decision that acknowledges for the first time India's large population of eunuchs and transvestites.
“I’m somewhat of a night owl,” says Christine Brown, executive director of K-12 and college prep products at Kaplan Test Prep. “I’ll probably be online this evening keeping an eye on things.”
From the big players like Kaplan to small mom-and-pops, test prep companies will be scrambling to overhaul their offerings in time for the new test’s debut in the spring of 2016—and hoping to capitalize on an expected surge in demand.
“When the new SAT comes up, business just goes through the roof,” says David Benjamin Gruenbaum of Ahead of the Class, a California-based tutoring company.
He expects another bump in business this time around, even though the College Board is teaming up with the nonprofit Khan Academy to offer free help.
As Marketplace has reported before, the college application process is a huge -- read: expensive -- endeavor. Standardized tests cost from registration to score reports:
Just taking the SAT costs upward of $51.00. Tack on individual subject tests required by some colleges, and you're adding another $24.50 in initial registration fees, plus $13-24 for every individual subject.
The ACT costs $36.50. The ACT Plus Writing Test, required by some colleges, costs $52.50.
SAT and ACT tutoring costs an average of $125 per session. Private tutoring for the tests will range in costs by tutor. Princeton Review's 24-hour private tutoring program will set a family back $3000. One independent tutor we spoke with charges almost $550 an hour for his services.
The Consumer Price Index (both the overall rate, and the ‘core’ rate excluding food and energy) rose 0.2 percent in March 2014, according to the Bureau of Labor Statistics. CPI is up 1.5 percent for the past 12 months. Big drivers of price rises in March were food (up 0.4 percent m/m and 1.7 percent y/y) and shelter costs, especially rent (up 0.3 percent m/m, 2.9 percent y/y). Economists were predicting a smaller rise in inflation at the consumer level.
Food prices, both at home and in restaurants, are facing multiple inflationary pressures, including a spate of bad weather—severe drought in California, deep freezes in the South—as well as higher-priced food imports. Leading the surge were meat and eggs (up 1.2 percent in March), dairy (up 1 percent) and fruits and vegetables (up 0.9 percent).
Shelter costs have been rising steadily for renters and owners. The latter face higher home prices and mortgage rates; the former face a shortage of rental units, which drives up rents. Homebuilding (especially of multifamily apartment buildings and condos) has started to pick up after coming to a virtual halt through the Recession. But it will take many years for inventory to catch up with demand, says Ethan Handelman, VP for Policy and Advocacy at the National Housing Conference.
“The pain [of rising rents] really goes pretty broadly," says Handelman. Handelman says low-income people usually can’t afford a rent hike—they’ve got no cushion and may be thrown into homelessness. He says middle-class people aren’t seeing their paychecks rise much. “Many of them are paying more than a third—and some are paying more than half—of their income for housing."
Among major product categories, only gasoline and airfare prices have fallen in the past twelve months (Gasoline is down 4.7 percent, and airfares have fallen 4.1 percent).
The uptick in inflation so far is not alarming most economists. Inflation rates are still well below the Federal Reserve’s target of 2 percent.
But economist Sarah Watt House at Wells Fargo Securities says average Americans might have a different experience of inflation going forward.
“Even if you have a moderate rate of inflation,” says Watt House, “if you’re still not getting commensurate pickup in wage growth, and that starts to eat away at real income gains, I think it could be a little bit concerning to folks.”
By Shea Huffman/Marketplace