Population Growth versus Employment

The erosion of the middle of the labor market is easy to misinterpret, because its roots are multiple. During the 1970s, the entry into the work force of an unprecedented number of women and of young adults born during the baby boom resulted in too many workers for the jobs available and depressed wages. The following Quote delivered by President Richard Nixon in 1969. “This growth will produce serious challenges for our society. I believe that many of our present social problems may be related to the fact that we have had only fifty years in which to accommodate the second hundred million Americans. In fact, since 1945 alone some 90 million babies have been born in this country. We have thus had to accommodate in a very few decades an adjustment to population growth which was once spread over centuries. Now it appears that we will have to provide for a third hundred million Americans in a period of just 30 years.”
(President Richard Nixon)
The decline of the middle class...