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Mayors: Spoils of recovery are going mostly to those at the top
Jobs gained during the economic recovery from the Great Recession pay an average 23 percent less than the jobs lost during the recession, according to a new report released by The United States Conference of Mayors.
The annual wage in sectors where jobs were lost during the downturn was $61,637, but new jobs gained through the second quarter of 2014 showed average wages of only $47,171. This wage gap represents $93 billion in lost wages.
Under a similar analysis conducted by the Conference of Mayors during the 2001-2002 recession, the wage gap was only 12 percent compared to the current 23 percent — meaning the wage gap has nearly doubled from one recession to the next.
MORE HERE: http://wonkynewsnerd.com/spoils-recovery-going-mostly-top/
The annual wage in sectors where jobs were lost during the downturn was $61,637, but new jobs gained through the second quarter of 2014 showed average wages of only $47,171. This wage gap represents $93 billion in lost wages.
Under a similar analysis conducted by the Conference of Mayors during the 2001-2002 recession, the wage gap was only 12 percent compared to the current 23 percent — meaning the wage gap has nearly doubled from one recession to the next.
MORE HERE: http://wonkynewsnerd.com/spoils-recovery-going-mostly-top/
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