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Decline of Good American Jobs

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Looking  through historical records of the Bureau of Labor Statistics (BLS) employment data from two periods: the peak just before the global financial crisis in 2007 to 2008, and as of May 2015.

In short:

—  loss of more than 200,000 jobs in Computer/Electronics with an average pay exceeding $71,300 a year, but added 265,000 jobs in Temporary Help paying $29,800 a year

—  loss of 1.4 million manufacturing jobs paying more than $53,000 a year, but added 1.4 million jobs in Food Services & Drinking Places that pay $17,000 a year

—  loss of 949,000 jobs in Durable Goods paying more than $56,700, but added more than 950,000 jobs in Social Assistance paying $28,340

—  loss a combined 343,000 jobs in Telecom and Publishing paying between $63,000 and nearly $77,000 annually, but added 332,000 in Home Health Care Services that pay $27,500

BLS data is littered with many more examples, all underscoring the same message.

High-paying jobs traded for low-paying jobs.

So what if you’re creating 200,000-plus jobs a month? If the jobs you’re creating pay one-third to one-half to one-quarter the pay of jobs the economy has lost, so what? The jobs u-bam-a’s economy is generating are incapable of fueling or maintaining the middle class.

Bye-bye middle class.

No middle class in a third world nation.

 

 

The facts no one wants to read.

Comments and referrals to this blog would be greatly appreciated.

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Written by solutions777

July 25, 2015 at 8:43 pm

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