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58% of Obama's New Jobs are Low Paying
9/3/12
Americans are losing their productive capacity due to higher taxes and more regulations. As a result, the jobs we have are far lower paying than ever before.
Hat tip to The Economic Collapse Blog for the information here.
The numbers compiled by the National Employment Law Project are absolutely stunning. Most of the jobs lost during the recent recession were mid-wage jobs, and most of the jobs created since then have been low wage jobs. This represents a fundamental shift in our economy.
- 21 percent of the jobs lost during the last recession were low wage jobs paying between $7.69 and $13.83 an hour.
- 58 percent of the jobs created since the end of the recession have been low wage jobs paying between $7.69 and $13.83 an hour.
- 60 percent of the jobs lost during the last recession were mid-wage jobs paying between $13.84 and $21.13 an hour.
- 22 percent of the jobs created since the end of the recession have been mid-wage jobs paying between $13.84 and $21.13 an hour.
Welcome to the new U.S. economy.
It really stinks for workers.
