Wishing for Wages
03/26/2013 | | Economic recovery, Elliot eisenberg, Graphsandlaughs, low wages, manufacturing, unemployment
While the economic recovery will soon enter its fifth year, wage growth is invisible. In part, it’s because unemployment is high, but also because more and more jobs are in leisure/hospitality and retail. These two sectors now account for 21% of US employment, yet pay just $13/hour and $16/hour respectively. Manufacturing pays $23/hour, yet employs just 9% of the workforce. Good paying jobs are being lost and not being replaced.