There is virtually no more ascending from the lower ranks, from my observations. I have had customers a long time, and seen very good employees set up for dismissal, in very ugly ways, because these individuals are making too much money for their position and they won't be promoted to management.
You used to be able to be a moderately sucessfull blue collar employee, have the wife stay home, and afford a modest home, two cars and a cottage. You tell me, that's even remotely possible anymore.
Also, I believe, companies don't want great employees. They want ones that are just good enough that can be readily replaced by others, just good enough. And these employees are going nowhere in the company. They might even be salaried, made into some "manager" at less pay and longer hours than what they were making if they are dumb enough.