April 28, 2014
The U.S. economy has come a long way from the recession. The unemployment rate is now at 6.7%, compared with a peak of 10% in late 2009.
Of course many have pointed out that this ignores that the unemployment rate fell in part because many people left the labor force. But there is another disappointing trend about the job recovery the U.S. has seen.
Most of the job losses during the labor market downturn from January 2008 to February 2010, came from high and mid-wage industries.
The latest report from the National Employment Law Project (NELP), via George Magnus, shows that in the recovery, from February 2010 to 2014, most of the job growth has come from lower-wage industries.