The Nation’s ‘Economic Recovery': Replacing Good Jobs With Bad Ones
Posted at 10:26 a.m. on April 28, 2014
The New York Times reports that the economic recovery has been skewed toward a rise in low-wage work.
“The deep recession wiped out primarily high-wage and middle-wage jobs. Yet the strongest employment growth during the sluggish recovery has been in low-wage work, at places like strip malls and fast-food restaurants.”
A new report from the National Employment Law Project shows “that total employment has finally surpassed its pre-recession level … But job losses and gains have been skewed.”
“As a result, the average household’s take-home pay has declined through the recession and the recovery to $51,017 in 2012 from $55,627 in 2007, after adjusting for inflation.”
The result: hundreds of thousands of Americans are “sliding out of the middle class and into the ranks of the working poor.”