NELP broke down jobs into low/ middle/and high-wage groups based on median incomes. Looking at the period from early 2008 through the first quarter of 2012, the study found:
- "High-wage" occupations accounted for 19% of the jobs lost during the Great Recession and 20% of the jobs gained during the recovery.
- "Mid-wage" occupations suffered 60% of job losses during the recession but only 22% of the growth during the recovery.
- "Low-wage" occupations accounted for 21% of the losses and a whopping 58% of the growth.
Last week at Jackson Hole, Fed Chairman Ben Bernanke said the employment situation is a "grave concern" but denied there has been a "substantial structural change" in the economy to account for it.
Stick to printing Fun Coupons... Ass Clown.
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