America's Problem: No middle income level jobs

by confuzzled dude Sat Nov 22, 2014 10:05 am

Jobs have indeed come back, and state unemployment is at 6.5 percent, ranking 32nd among the 50 states. But those jobs are at the top and bottom of the pay scale, and moving farther away from one another.

In New Castle County, which includes Wilmington, three fields account for nearly all job growth: professional and technical services (architects, accountants and engineers), health and social assistance, accommodation and food services.

In the first of those categories, wages, adjusted for inflation, have risen 27 percent since 2009, according to state labor data. The average worker earns $124,000 annually. In the other two sectors, wages have fallen 4 percent and 13 percent, respectively. Both pay below the national average, and the typical food service worker earns $16,959 per year. In real terms, the past six years have come with a $650 pay cut.

http://www.washingtonpost.com/business/economy/why-wage-growth-disparity-tells-the-story-of-americas-half-formed-economic-recovery/2014/11/21/59e541e8-f7b8-4908-ab3e-5da19cb91db8_story.html?hpid=z6

by truthbetold Sat Nov 22, 2014 1:38 pm

CD

I will restate the problem in a slightly different way.

USA has the highest number of middle class jobs of any country in the world. Major changes in the economic activity due to technology ( computerization, automation, Artificial intelligence) and globalization (software outsourcing, engineering outsourcing, BPOs) moved many of the middle level jobs out of the country. Current recovery did create many new middle level jobs but the structural loss is so overwhelming in the middle level jobs, it is not showing up on the economic dashboards.

Net result is the number of middle class is shrinking.

by confuzzled dude Sat Nov 22, 2014 2:01 pm

truthbetold wrote:CD

I will restate the problem in a slightly different way.

USA has the highest number of middle class jobs of any country in the world. Major changes in the economic activity due to technology ( computerization, automation, Artificial intelligence) and globalization (software outsourcing, engineering outsourcing, BPOs) moved many of the middle level jobs out of the country. Current recovery did create many new middle level jobs but the structural loss is so overwhelming in the middle level jobs, it is not showing up on the economic dashboards.

Net result is the number of middle class is shrinking.

The net effect of this is increased competition for low paying jobs thus making college degree that much more important. I wonder American kids without a college degree will see any success down the road, is it a thing of the past?

by Sponsored content

America's Problem: No middle income level jobs

America's Problem: No middle income level jobs

Re: America's Problem: No middle income level jobs

Re: America's Problem: No middle income level jobs

Re: America's Problem: No middle income level jobs