Mish's Global Economic Trend Analysis: Central Falls Rhode Island Fires Every High School Teacher: "Here is an interesting email from 'Jason' regarding high schools in Central Falls Rhode Island. Jason writes:
Hi Mish,
As I'm sure you're aware, Rhode Island has one of the highest unemployment rates in the nation.
Central Falls is one of the poorest towns in the state. It looks like the pictures everyone's seen of Detroit or Flint. There are lots of boarded up windows, abandoned buildings, decrepit factories with broken windows, etc. It's an absolutely depressed community. According to Wikipedia, the median income in the town is $22k.
Teacher salaries at the high school average $72-78k. Apparently 50% of the students at the school are failing all of their classes, and the graduation rate is also under 50%. In an effort to turn the school around, the superintendent requested some changes be made whereby the school day would be slightly extended, teachers would perform some extra tutoring, etc."
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