Politics Magazine

Jobs Lost In Recession Being Replaced By Low-Wage Jobs

Posted on the 30 April 2014 by Jobsanger
Jobs Lost In Recession Being Replaced By Low-Wage Jobs
Jobs Lost In Recession Being Replaced By Low-Wage Jobs
The figures below are from the National Employment Law Project (NELP) -- and they show that the recession recovery that has been experienced by Wall Street and the giant corporations has still not filtered down effectively to the vast majority of Americans. It's bad enough that the unemployment rate remains high and millions of Americans remain unemployed, but the recovery for workers has been very unequal -- and many of those who have been able to find jobs are making significantly less than before the recession.
Note that the bulk of the jobs lost because of the recession were high-wage and mid-wage jobs (about 77.6%), while the low-wage percentage lost was about 22.4%. But the job gains since the recession have been very different -- with only 56.1% being high-wage or mid-wage jobs, and a huge 43.9% being low-wage jobs. To put it another way, there are now 1.93 million less high-wage and mid-wage jobs, and there are 1.85 million more low-wage jobs.
So Main Street has seen nearly 2 million high-wage and mid-wage jobs turn into low-wage jobs. That may be good for Wall Street and the mega-corporations, but it is disastrous for workers. Workers had already seen a couple of decades where their wages were stagnant and had little growth. Now they are seeing the median wage fall as good jobs are being replaced with low-paying (and many times no benefit) jobs.
NELP says it is just that the high and mid-range jobs are lagging behind, while it is easier for low range jobs to recover. They are more optimistic than I am. Personally, I think Wall Street and corporate America loves the situation we are in, where they can easily replace the good jobs they lost with poor pay and benefit jobs -- and they have no intention to change that. They haven't been sharing productivity with workers for quite a while, and now they can compound that travesty by paying less than before the recession.
It has been estimated that by 2020 about one quarter of the American workforce (about 1 out of every 4 workers) will be working in low-wage jobs -- and if the minimum wage is not raised, many of those workers will be working for even less than the NELP definition of a low-wage job ($9.48 to $13.33). This is not a recovery -- it's a disaster.

You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Shilo Sanders- Son Of Deion Sanders Thanks Courts For Allowing Him To Live With...

    Shilo Sanders- Deion Sanders Thanks Courts Allowing Live With Pilar

    ChristianNews Shilo Sanders, the son of NFL Hall of Famer,  Deion Sanders took to twitter to “thank” the courts for allowing him to live with his mother, Pilar... Read more

    The 04 August 2017 by   Firstladyb
    SPIRITUALITY
  • “I Feel Great”

    Feel Great”

    Jakub went to his doctor's office believing that he had a back injury, but returned with a chocking diagnosis instead. He had type 2 diabetes - in spite of... Read more

    The 04 August 2017 by   Dietdoctor
    DIET & WEIGHT
  • July Allotment Recap (2/2)

    July Allotment Recap (2/2)

    Sunday afternoon saw us return bravely to 24a even though there were more thundery showers foretold by the weatherman. I will admit that I guffawed at the... Read more

    The 04 August 2017 by   Chrryblossomtat2
    GARDENING, HOME
  • Culinary Delicacies in Croatia- What to Eat and Drink in Croatia

    Culinary Delicacies Croatia- What Drink Croatia

    In my earlier post, we spoke about how Croatia is a stunning European destination, let us now see what are the culinary delicacies in Croatia or what you can... Read more

    The 04 August 2017 by   Kash Pals
    FOOD & DRINK, A-CLASSER
  • #Golf Training Aids Spotlight: The Delta Putt

    #Golf Training Aids Spotlight: Delta Putt

    Do you consider yourself to be a strong putter or do you feel you could improve your make percentage on the green? Most amateurs could use help with the flat... Read more

    The 04 August 2017 by   Golfforbeginners
    GOLF, SPORTS
  • Three Incredible Hikes in Southern Iceland3 Min Read

    Three Incredible Hikes Southern Iceland3 Read

    Nature takes center stage in Iceland, where there's a stunning view around every bend: massive glaciers, expansive lava fields, powerful waterfalls, black sand... Read more

    The 04 August 2017 by   Healthytravelblog
    TRAVEL
  • What I Wore: Daytime Pajamas

    What Wore: Daytime Pajamas

    Pajama top: ELOQUII (14) | Pajama pants: ELOQUII (14) | Shoes: ASOS (similar) | Earrings: J. Crew ( same in different colors, similar concept in same color) |... Read more

    The 04 August 2017 by   Wardrobeoxygen
    FASHION, SELF EXPRESSION, SHOPPING

Magazines