Learning and Earning

"What you earn depends on what you learn" sounds glib. However, there appears to be evidence that it's most probably true.

The evidence is supplied by a short news item in the inside page of The Washington Post issue of the 2nd of July 2016. In general men in the US earn more than women. Whites earn more than blacks, but who earns more when median hourly earnings are broken down by sex, race and ethnicity? Answer: Asian men.

The Post said that the Pew Research Center's review of current population survey data found that, when looking at full or part time workers 16 and older, median hourly earnings for Asian males were $24 last year compared with $21 for White men.

Median hourly earnings for Asian women were $18 compared with $17 for White women. An interesting twist of wage data shows that White women and Asian women earned more than Black men and Hispanic men.

As expected, educational  achievement plays a critical role. Those with four year college degrees earn more than those without, and Asians are "comparatively well educated", to quote the Post.

53% of Asian adults 25 and older had at least a bachelor's degree in 2015, compared with 36% of whites, 23% of blacks and 15% of Hispanics. It is safe to say that “what you earn largely depends on what you learn”. Especially in this age of furiously changing technology in which today's high tech is tomorrow's obsolescence.