Quality of U.S. jobs declining during recovery

[Manix]

<snip>


High quality jobs in the U.S. have been replaced in the past three years by lower-paying, less stable employment, according to a report released on Monday by CIBC World Markets.

The report said since the economic expansion got underway in the U.S. in late 2001, the number of jobs in high-paying industries fell by more than 2 per cent while the number of jobs in low-paying industries rose by 1.2 per cent.

During the same time, the number of part-timers rose by more than 5 per cent and the number of self-employed Americans was also up by nearly 5 per cent, while regular full-time employment grew by just 1.7 per cent.

"Given that swap of good for bad jobs and the current employment distribution, it will take 20 per cent more jobs than in the last extension to generate the same salary gain," said CIBC World Markets' senior economist Benjamin Tal, the report's author.



CBC

[tom_paine]

1. Of course. This is obvious to Free Americans.

[NewYorkerfromMass]

13. I know. It's like... DUH!

Similar story in this morning's paper- pay increases not keeping up with cost of living.

[Justice]

2. Tragedy Is That This Report Comes From Canada Because

The US Media won't report the facts.

[teryang]

3. What recovery?

[Just Me]

4. "Recovery" is a VERY relative term,...

,...doncha' know. :evilgrin:

[teryang]

5. In my county 20 percent live below poverty level

22 percent of children live below poverty level.

Government welfare and food stamps pay outs up about 5 percent.

Mental illness up.

Suicides up.

Drug use up.

[SoCalDem]

8. Like a Yugo with a flat tire..

Even when the tire gets fixed...it's still a Yugo :)

[PROGRESSIVE1]

6. Will Americans relize this this?

[DeepModem Mom]

7. kick

[Mari333]

9. It is a 10% unemployment rate in my town

only jobs are tourist-service related...5-6 dollars an hour. 100's of applications for small factory work, and no one hiring people who are "over" qualified (any college, like us)
My husband was the only one who aced the math test at a small factory interview, and no one called him back. Its how it is here, and we cut down to nothing.Im working on getting a health care job, thats what exists , health care. Thats about it. When winter comes here in Michigan, its gonna get ugly with people attempting to pay their heating bills.
Houses up for sale, all over the place. Town is run by republicans and the middle class is shrinking fast. Jobs downsized all over the place.
No recovery, just a few C students sitting in the White House who have never done a days work in their lives, making up shit in their heads and pushing it as PR...out of touch inside the Beltway.

[cthrumatrix]

10. welcome to shrub's "political economy" where all figures are suspect

and could be manipulated for political gain and/or corruption.

[dixielib]

11. Great article on why the con's like this economy

This is a long but very interesting article on why and how the middle class is disappearing.

http://www.commondreams.org/views04/0618-03.htm

[Don_G]

12. Very Short Sighted Thinking

With the disappearance of the middle-class, who will buy the goods and services the Rethugs are offering in this economy.

Sales of American goods are already off 10 to 15 percent in Europe where the citizens there aren't buying because they see the corporations as a major supporter of Dimbo and the Iraqi War.

[Darranar]

14. This is the result...

of years of "free market" policies that have destroyed the middle class and concentrated the wealth.

This development will almost certainly continue.

[struggle4progress]

15. kick

:kick: