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How Emerging Technology Effects Society: The microeconomics picture of the U.S has changed immensely since 1973, and the trends are proving to be consistently downward for he nation's high school graduates and high school dropouts. Of all the reasons given for the wage squeeze - international competition, technology, deregulation, the decline of unions and defense cuts technology is probably the most critical. It has favored the educated and the skilled, says M. B. Zuckerman, editor-in-chief of U.S. News and World Report (7/31/95). Since 1973, wages adjusted for inflation have declined by about a quarter for high school dropouts, by a sixth for high school graduates and by about 7% for those with some college education. Only the wages of college graduates are up. Of the fastest growing technical jobs, software engineering tops the list. Carnegie Mellon University reports, recruitment of its software engineering students is up this year by over 20%. All engineering jobs are paying well; proving that highly skilled labor is what employers are interested for potential employees.
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