>>”Think about trying to live today on the income you had 15 years ago.”
Plenty of degreed professionals in the tech industry who are over 50 are having to accept this.
You’re right; good point. Here in the NYC metro area there are plenty of stories of transit delays because people are walking in front of trains. Many of these are occurring in northeastern NJ, where that demographic is more likely to be saddled with a mortgage (and have children that would be uprooted from their schools); tenants in NYC who lose a job simply pack up & leave.
Millions of blue collar too and some just can’t find work at all because, like tools and aftermarket auto parts, they’ve been replaced by imports.
My highest income was in the 80’s.