According to a report issued recently by the Economic Policy Institute (EPI), 28.3 percent of all workers are receiving poverty-level wages today, and that figure is projected to be virtually unchanged, at 28 percent, in the year 2020. Based on employer surveys of where jobs will be created in the next eight years, the EPI found that an amazing 25 percent would not require even a high school education, even though barely 8 percent of the work force falls into that category.

In other words, despite the incessant claims that getting a college education is essential to getting a decent job, American capitalism has something very different in store for the new generation of the working class: low-wage jobs in industries like retail, health care, office temps and food service, where the bulk of new workers will make the minimum wage or slightly more.

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