Rich get richer and poor get poorer in this economy
The unemployment rate was below 4.5 percent for most of the past two years in Houston, the companies need to offer better pay and benefits in order to find the labor. However, there rate of people without health insurance has grown into the worst in the nation among major cities.
The unemployment rate has averaged less than 3.5 percent for two years in San Antonio. However, the city’s poverty rate has grown to 20 percent of the population.
These are two examples of how U.S. economies has been divided into two. One for limited education people, who has few job opportunities and little capital to relocate or gain training. The other for people that has been highly educated, they gots lots of job choices and the cash to pursue better opportunities or more education.
This is related to what we’ve learned in class because these are typically examples of the rich-get-richer model. In the textbook, we know that the more well-known someone ism, the more likely you are to hear their name come up in conversation, and hence the more likely you are to end up knowing about them as well. It is kind of similar in the past two examples: The more money you get, the better education you can have and more money to earn.
Links: https://www.houstonchronicle.com/business/columnists/tomlinson/article/Rich-get-richer-and-poor-get-poorer-in-this-14471084.php