Tag: low paying jobs

Authored by Michael Snyder via TheMostImportantNews.com,

If you have a good paying job, you should probably try to hold on to it as hard as you can, because those types of jobs are steadily becoming rarer. Since 1990, the U.S. economy has produced millions of jobs, but as you will see below nearly two-thirds of them have been low wage jobs. Of course this is one of the biggest factors causing the systematic erosion of the American middle class. Today, half of all U.S. workers make less than $33,000 a year, but meanwhile the cost of living has been steadily increasing. Housing costs, health insurance and other basic necessities have been rising much faster than our paychecks have, and this has put an enormous amount of financial stress on hard working American families.

A job making making chicken sandwiches at Popeye’s is not equivalent to a structural engineering job. In other words, the quality of the jobs that we create is perhaps even more important than the number of jobs that we create.

Continue reading “63% Of All U.S. Jobs Created Since 1990 Have Been Low-Wage Jobs”

Guest Post by Joe Guzzardi

The Brookings Institution’s Metropolitan Policy Program just released a study that casts serious doubt on President Trump’s insistence that the economy is improving, and that the employment market is strong.

Brookings’ findings confirm that working doesn’t necessarily translate into earning a decent wage. Despite record low 3.6 percent unemployment, the Brookings’ report, “Meet the Low-Wage Workforce,” shows that 53 million Americans – 44 percent of all workers age 18 to 64 – hold low-wage jobs, earn median hourly wages of $10.22 and have a $17,950 median annual income.

Continue reading “New Report: 53 Million Americans Hold Low-Wage Jobs”

Via ZeroHedge

It’s the “Greatest Economy Ever,” right? Well, it depends on who you ask.

For instance, a new report sheds light on 53 million Americans, or about 44% of all US workers, aged 18 to 64, are considered low-wage and low-skilled.

Many of these folks are stuck in the gig economy, making approximately $10.22 per hour, and they bring home less than $20,000 per year, according to a Brookings Institution report.

An overwhelmingly large percentage of these folks have insurmountable debts if that are student loans, auto loans, and or credit card debt. Their wages don’t cover their debt servicing payments as their lives will be left in financial ruin after the next recession.

Continue reading “53 Million Americans Drowning In Cycle Of Low-Wage Work”