Job Market Recovery Led By Low-Wage Sectors
The job market these days is sort of like that old Catskills joke: The food is terrible, and the portions are so small.
The jobs are lousy, and there aren't enough of them.
More than half of all the jobs created during the past six months have been in low-paying industries such as retail and temporary help, Joseph Brusuelas, senior economist at Bloomberg LP, noted on Thursday.
That helps explain why wage growth hasn't kept up with inflation, despite the economy having created 1.2 million jobs in the past six months.
"Those low-wage paying jobs are not translating into better spending," Brusuelas said in an interview with The Huffington Post.
Obamas plan , destroy the middle class ...its working
The job market these days is sort of like that old Catskills joke: The food is terrible, and the portions are so small.
The jobs are lousy, and there aren't enough of them.
More than half of all the jobs created during the past six months have been in low-paying industries such as retail and temporary help, Joseph Brusuelas, senior economist at Bloomberg LP, noted on Thursday.
That helps explain why wage growth hasn't kept up with inflation, despite the economy having created 1.2 million jobs in the past six months.
"Those low-wage paying jobs are not translating into better spending," Brusuelas said in an interview with The Huffington Post.
Obamas plan , destroy the middle class ...its working