Back to decline of local news, I believe shrinking newrooms and the rise of the Multi Media Journalist position is a huge contributor. I'm seeing so many local stations with less than 10 reporters who have to edit, film, write and report all in one.
Unfortunately, the increased work load hasn't translated to higher pay, especially not now with shrinking revenue streams. But a job requiring reporters to move to small market boondocks -- often away from any familial financial support structure--must pay better. It's crazy that people employed in television are paid retail level wages and need to live with roomates despite working a job requiring a bachelor's degree. To add to that, reporters are locked into to two to three year contracts sometimes with post employment non compete clauses.
IMO get rid of or shorten contracts for reporters (at least those being paid low in smaller markets). Stop post employment non competes (in states where it's legal). People care more about where anchors land than reporters. This is a big ask but raise the pay. It allows people from diverese fianncial backgrounds to enter the field. A job requiring a degree should at least pay $1K a week, or at the very minuimum allow for the worker to have all basic needs met. Have realitic deadline and story output expectations as newsrooms shrink. Many reporters are qutting the industry over burnout.
Journalism is a great and exicitng field but it has major drawbacks.