SOC-1101 Lecture 30: SOCIAL STRATIFICATION
Document Summary
Social stratification: social stratification - the structuring of inequalities between groups in society, in terms of their access to material or symbolic rewards. Income refers to wages and salaries earned from paid occupations, plus money received from investments: "blue-collar workers" - those who typically perform physical labor such as manufacturing or construction work, "white-collar workers" - managerial or professional high-skilled workers. While average after-tax incomes increased by 12. 7% for families with incomes. Wealth refers to all assets of individuals own: cash, savings, and checking accounts; investments in stocks, bonds, real estate properties; and so on. Education is an important dimension of social stratification, it is one of the strongest predictors of occupation, income, and wealth later in life. However, for current cohorts of college graduates who face a recession and difficult job market after graduation, a college degree may not be the same ticket to success as it was for their older siblings and parents.